Indo US Bio-Tech Limited has appointed M/s. Bhagat & Associates as its new statutory auditor following the resignation of M/s. Gautam N Associates, effective June 15, 2026. The change in auditor was driven by the company's administrative and operational restructuring of audit assignments, according to a regulatory filing.

The Board of Directors approved the appointment of M/s. Bhagat & Associates at its meeting held on June 16, 2026, based on the recommendation of the Audit Committee. The new auditor's term runs from the date of Board approval until the conclusion of the next General Meeting, subject to shareholder approval. The firm, registered with the Institute of Chartered Accountants of India, holds Firm Registration Number 101100W and has no relationship with the company's directors or key managerial personnel.

M/s. Gautam N Associates resigned from the position of Statutory Auditor effective June 15, 2026. The firm, which was originally appointed on September 30, 2020, had its term scheduled to expire at the conclusion of the 26th Annual General Meeting following a Board-approved re-appointment in October 2025. The resignation letter confirmed there were no concerns or efforts made by the auditor prior to stepping down, nor were there any limitations on the scope of audit or lack of information provided by management.

The outgoing auditor's latest report was the Independent Auditors' Report for the year ended March 31, 2026, submitted on May 29, 2026. M/s. Gautam N Associates stated they will provide necessary professional clearances to the incoming auditors to ensure compliance with the Companies Act, 2013. The company has confirmed that the information provided regarding the resignation and appointment is complete and correct.

Auditor Details

Indo US Bio-Tech Limited has completed the dispatch of the postal ballot notice dated July 4, 2026, to all members whose names appear in the register of members as on the cut-off date of June 26, 2026. The notice seeks shareholder approval for the regularization of Mrs. Hemanshi Darsh Soni as a Non-Executive Independent Director for a term of five years and the appointment of M/s. Bhagat & Associates, Chartered Accountants, as Statutory Auditors for a period of five years effective from June 16, 2026. The company has also published the notice in the Western Times English and Gujarati editions on July 5, 2026, under Rule 22 of the Companies (Management and Administration) Rules, 2014.

Mrs. Hemanshi Darsh Soni was initially appointed as an Additional Director on April 21, 2026, for a period of five years, pending shareholder ratification. She is not related to any director on the Board and does not hold directorship in any other listed entity. The proposed statutory auditor, M/s. Bhagat & Associates (FRN: 101100W), is a firm of Chartered Accountants registered with the Institute of Chartered Accountants of India.

The company has informed shareholders that voting can be done only by remote e-voting. The remote e-voting period commences on July 5, 2026, at 9:00 a.m. IST and ends on August 3, 2026, at 5:00 p.m. IST. Members whose names are recorded in the depositories as on the cut-off date of June 26, 2026, are entitled to vote. The Postal Ballot Notice, explanatory statement, and e-voting instructions are available on the company website and the e-voting agency website.

M/s. Amrish Gandhi & Associates, Practicing Company Secretary, has been appointed as the scrutinizer to conduct the postal ballot process. The resolutions will be deemed to be passed on August 3, 2026, and the scrutinizer will submit the report and declare the results on or before August 5, 2026.

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