Statutory and Internal Auditor Resignations and New Appointments
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Indo Us Bio Tech Limited's board on June 16, 2026 approved changes to its auditors. Statutory Auditor M/s. Gautam N Associates resigned effective June 15, 2026, citing administrative and operational restructuring. M/s. Bhagat & Associates, an Ahmedabad-based firm, was appointed as the new Statutory Auditor, subject to shareholder approval. Internal Auditor M/s. Raj Shah & Co. also resigned, with M/s. J. M. Raval & Co. appointed for 5 years (FY 2026-27 to 2030-31). The change aims to economize operations and improve local coordination near the company's Ahmedabad registered office.
Midterm statutory auditor change may raise mild governance concerns, but a replacement is in place. New statutory auditor appointment awaits shareholder approval.