Resignation letter of Mr. Indirakumar

Mr. S. Indirakumar, Whole-Time Director and promoter-shareholder holding over 10.7% stake, has resigned from Indrayani Biotech Ltd effective March 16, 2026. The resignation is not voluntary, according to Indirakumar, who claims it is forced due to persistent governance failures, statutory non-compliance, and personal legal exposure. He alleges the company violated Board meeting procedures, routed supply chain operations through an undisclosed related party (HSL Agri Solutions Ltd), failed to pay dividends since the 2018 merger, and faces an Income Tax demand of Rs. 13.29 Crore. He also claims the company has not filed GST returns or deposited TDS/ESI/PF despite deducting these amounts. Indirakumar demands complete relief from all liabilities including criminal exposure and reserves the right to approach NCLT, ROC, and other regulatory bodies.