Indo Us Bio-Tech Limited shareholders have approved the regularization of Hemanshi Darsh Soni as a non-executive independent director and the appointment of M/s. Bhagat & Associates as statutory auditor, following a remote e-voting postal ballot process. The voting period ran from July 5, 2026, to August 3, 2026, with results declared on August 5, 2026. Both resolutions secured overwhelming support, with 100% of polled votes cast in favor, signaling clear shareholder endorsement of the company’s governance appointments.

The postal ballot was conducted in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Sections 108 and 110 of the Companies Act, 2013. Amrish Gandhi & Associates served as the scrutinizer for the process, overseeing the remote e-voting facility provided by National Securities Depository Limited (NSDL). The cut-off date for determining voting eligibility was June 26, 2026, with 4,774 shareholders eligible to vote on a total equity shareholding of 2,00,52,000 shares.

Voting Results Breakdown

The promoter group held 1,36,93,643 shares (68.29% of total equity) and voted entirely in favor of both resolutions. Public non-institutional shareholders, holding 63,58,357 shares, participated actively, polling 2,94,924 votes (4.64% participation rate). Of these, 2,94,919 votes were cast in favor, while only five votes were recorded against each resolution. No public institutional shareholders held stakes or participated in the vote.

Governance Implications

The regularization of Hemanshi Darsh Soni (DIN: 11659183) addresses prior procedural gaps in her initial appointment as an additional director. Her confirmation strengthens the board’s independent oversight capacity, a key metric for regulatory compliance and investor confidence. Meanwhile, the appointment of Bhagat & Associates (FRN: 101100W) as statutory auditor ensures continuity in financial reporting integrity, particularly relevant given the company’s ISO-certified operations and DSIR-recognized R&D unit.

Pursuant to Regulations 59 and Schedule XX of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, three shareholders voted against both resolutions. However, their dissenting votes represented just five shares out of 1,39,88,567 polled, indicating minimal opposition to the proposed changes. The scrutinizer’s report confirmed that all conditions under the Companies Act, 2013, and SEBI LODR regulations were fulfilled, validating the outcome.

What the Numbers Show

The near-total support from both promoter and public non-institutional shareholders underscores stable governance alignment at Indo Us Bio-Tech Limited. With promoters casting all their votes in favor and public retail investors showing a 99.9983% approval rate, the company demonstrates strong internal cohesion on critical board-level decisions. This level of consensus reduces future governance friction risks and supports smoother execution of strategic initiatives, including potential expansions in its agri-tech R&D capabilities.

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