Remus Pharmaceuticals appoints Bhavik Shah as CFO effective July 9, 2026

Remus Pharmaceuticals has appointed Bhavik Shah as its Chief Financial Officer and Key Managerial Personnel, effective July 9, 2026. The appointment follows the recommendation of the Nomination and Remuneration Committee and the approval of the Audit Committee. This leadership change is intended to strengthen the company's financial controls and strategic decision-making capabilities.

Appointment Details

The Board of Directors approved the appointment during its meeting held on June 23, 2026. Bhavik Shah succeeds Anjali Shah, who resigned to pursue other professional opportunities effective July 8, 2026. The transition ensures continuity in the company's financial operations and regulatory compliance functions.

Profile of Bhavik Shah

Bhavik Shah is a Chartered Accountant and Commerce Graduate with over 20 years of experience in finance, accounts, treasury, and taxation. His expertise includes financial reporting under Ind AS and IFRS, business planning, working capital management, and ERP implementation. Shah has held leadership positions in reputed organizations across the healthcare and pharmaceutical sectors.

Particulars	Details
Name	Bhavik Shah
Designation	Chief Financial Officer & Key Managerial Personnel
Effective Date	July 9, 2026
Experience	Over 20 years in Finance and Compliance

Regulatory Filing

The intimation was submitted to the National Stock Exchange of India Limited on June 23, 2026. The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Deval Bakulkumar Patel, the Company Secretary and Compliance Officer, signed the filing on behalf of Remus Pharmaceuticals Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.23%	-2.52%	+9.69%	+6.05%	-61.25%	-67.76%

remus pharmaceuticals disclosed that its stepdown subsidiary, Espee Biopharma & Finechem LLC, has been penalised USD 14,247.38 by the US Internal Revenue Service (IRS) for alleged tax non-payment and late filing. The company stated that the subsidiary disputes the penalty as the taxes have already been paid, and it is currently engaging with the authority to resolve the matter. There is no material impact on the financials or operations of Remus Pharmaceuticals or its subsidiary due to this notice.

The notice, dated June 15, 2026, was received by the subsidiary on June 19, 2026. It originates from the Department of the Treasury Internal Revenue Service in Ogden, UT. The penalty was imposed following allegations of non-payment of tax and late filing of tax due by Espee Biopharma & Finechem LLC.

Details of the Regulatory Notice

The filing submitted to the National Stock Exchange of India Limited provided specific particulars regarding the order received from the US tax authority. The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sr. No.	Particulars	Description
1.	Name of Authority	Department of the Treasury Internal Revenue Service, Ogden, UT 84201-0039 (“IRS”).
2.	Nature and details of the action(s) taken, initiated or order(s) passed	Penalty on alleged non-payment of tax imposed by IRS on Espee Biopharma & Finechem LLC, Stepdown Subsidiary of the Company (“EBFL”).
3.	Date of receipt of direction or order	Notice dated June 15, 2026, received on June 19, 2026.
4.	Details of the violation(s)/ contravention(s) committed or alleged to be committed	Due to alleged non-payment of tax and late filing of tax by EBFL to IRS, a penalty of USD 14,247.38 has been imposed on EBFL.
5.	Impact on financial, operation or other activities of the listed entity	There is no material impact on financials, operations or other activities of the Company and EBFL due to the said notice.

Subsidiary's Response and Impact

Espee Biopharma & Finechem LLC has contested the validity of the penalty. The subsidiary believes that since the said tax has already been paid, there is no case for imposing a penalty. It is currently in the process of taking up the matter with the IRS to seek necessary clarifications and corrections.

Remus Pharmaceuticals clarified that the development does not have a quantifiable monetary impact on its operations. The company confirmed that it has informed the exchanges regarding the receipt of the notice and the subsequent steps being taken by its subsidiary to address the issue.