Amira Nature Foods Ltd (the “Company”; NYSE: ANFI), a leading global provider of packaged Indian specialty rice, announced today that the Audit Committee of its Board of Directors engaged Deloitte Haskins & Sells LLP (“Deloitte”) as the Company’s independent auditors, effective April 14, 2014. Deloitte will commence work immediately to audit the Company’s financial results for the fiscal year ended March 31, 2014.
The decision by the Company’s Audit Committee to engage Deloitte was made as a result of a mutual agreement with Grant Thornton India LLP (“GT India”) that GT India could not continue as the Company’s independent accounting firm. In March 2014, it was determined that two directors of the Company’s wholly owned non-operating subsidiary Amira Nature Foods Ltd. (Mauritius) had affiliations that were inconsistent with Rule 2-01 of Regulation S-X. Prior to such determination, the Company did not believe there were any issues relating to GT India’s independence. GT India therefore tendered its resignation on April 4, 2014.
The reports of GT India on the Company’s consolidated financial statements as of and for the years ended March 31, 2013 and 2012 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles. Those reports have not been withdrawn or modified.
In addition, for the years ended March 31, 2013 and 2012 and through April 4, 2014, there were no (a) disagreements with GT India on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to GT India’s satisfaction, would have caused GT India to make reference to the subject matter thereof in connection with its reports for such years; or (b) reportable events that would be required to be described under Item 16F(a)(1)(v) of Form 20-F in connection with the Company’s annual report on Form 20-F.
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