Apollo Ingredients Limited (formerly known as indsoya Limited) announced the outcomes of its board meeting held on March 5, 2026, at the company's registered office. The meeting, which commenced at 04:00 P.M. and concluded at 05:00 P.M., addressed several important corporate matters requiring shareholder approval and operational decisions.

Extraordinary General Meeting Approval

The board considered and approved the draft notice for an Extraordinary General Meeting (EGM) of company members. The EGM has been scheduled to address ratification of deviation in right issue proceeds utilization and other specified matters in accordance with the Companies Act, 2013 and SEBI regulations.

Scrutinizer Appointment and Corporate Decisions

The board approved the appointment of M/s Ravi Patidar and Associates, Practicing Company Secretaries (Membership No. 55749), as scrutinizer for conducting the remote e-voting process during the EGM. This appointment ensures fair and transparent voting procedures in compliance with statutory requirements.

Additionally, the board finalized the company's official letterhead and logo design, which will be used for all official, statutory, and corporate communications going forward.

Right Issue Proceeds Reallocation

A significant financial decision involved the reallocation of unutilized right issue proceeds. The board approved transferring Rs. 2,00,000 originally allocated for issue expenses to the company's working capital requirements.

The meeting outcomes were communicated to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with Company Secretary and Compliance Officer Ayushi Agrawal (Membership No. A54489) signing the disclosure on March 5, 2026.

Apollo Ingredients Limited (formerly Indsoya Limited) has secured interim relief from the Securities Appellate Tribunal (SAT) in its ongoing appeal against BSE Limited regarding the rejection of a waiver application for exchange-imposed fines. The company disclosed this development under Regulation 30 of SEBI LODR Regulations on March 1, 2026.

SAT Order Details

The Securities Appellate Tribunal, Mumbai, passed its interim order on February 26, 2026, in Appeal No. 39 of 2026, along with Miscellaneous Application Nos. 152 & 153 of 2026. The appeal was filed by Apollo Ingredients Limited challenging BSE Limited's decision to reject its waiver application for fines imposed by the exchange.

Key Directions from the Tribunal

The SAT issued several important directions following the hearing:

Procedural Timeline

The tribunal has established a structured timeline for the proceedings. BSE Limited has been granted six weeks to file its reply, while Apollo Ingredients Limited will have three weeks thereafter to submit its rejoinder. The deposited amount of ₹2,06,000 will be maintained in an interest-bearing account by BSE, with the final disposition subject to the appeal's outcome.

Financial Impact Assessment

According to the company's disclosure, the interim order does not have any material impact on Apollo Ingredients Limited's financial position, operations, or other activities. The only financial implication is the required deposit of ₹2,06,000 under protest, which remains contingent upon the final adjudication of the appeal.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Ayushi Agrawal signed the disclosure document, ensuring compliance with regulatory requirements and industry standard formats for uniform disclosures across listed entities.

The interim relief provides Apollo Ingredients Limited with operational flexibility while the substantive appeal remains pending before the Securities Appellate Tribunal, with the next hearing scheduled for June 18, 2026.