Bengaluru, March 31: VerSe Innovation, the parent company of Dailyhunt and Josh, has appointed PR Ramesh as an independent director, reinforcing its commitment to stronger corporate governance. The company confirmed that Ramesh will also chair its audit committee, signaling a sharper focus on financial discipline and compliance as it scales operations.

Strengthening Financial Oversight

With decades of experience in auditing and corporate governance, PR Ramesh is expected to play a crucial role in enhancing financial transparency at VerSe Innovation. As audit committee chair, he will oversee financial reporting standards, internal controls, and regulatory compliance. His appointment aligns with the company’s broader strategy to build a robust risk management framework amid rapid growth in India’s digital content ecosystem. VerSe Innovation Achieves 88% Revenue Growth, Expected To Achieve Group-Level Profitability in H2 of FY2026.

Ramesh has previously served on the boards of leading Indian corporations such as Air India, Cipla, Nestlé India, and Larsen & Toubro, bringing valuable governance expertise to the startup’s boardroom.

Addressing Past Audit Concerns

The move comes after Deloitte India, the company’s former auditor, flagged “material weaknesses” in VerSe Innovation’s internal controls for FY2024. These concerns were related to accounting practices involving operating expenses, trade payables, and expense balances. Dailyhunt, Josh Parent VerSe Innovation Gets Clean Audit Opinion From Deloitte for FY24 Financials.

Although Deloitte clarified that these issues did not affect its overall audit opinion, the onboarding of a seasoned professional like Ramesh indicates a proactive effort by VerSe to address these gaps and strengthen internal systems.

Focus on Sustainable Growth

Commenting on his appointment, Ramesh highlighted the importance of balancing scale with accountability. He emphasized that strong governance, disciplined financial practices, and effective oversight are essential for long-term sustainability in high-growth companies.

Co-founder Umang Bedi noted that Ramesh’s insights would help enhance stakeholder confidence as the company transitions toward a more sustainable and profitability-driven growth model.

Market Position and Investor Backing

Headquartered in Bengaluru, VerSe Innovation is valued at around 5 billion dollars and has raised over 2 billion dollars from global investors. Its backers include Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan, and Lupa Systems.

With this appointment, VerSe Innovation strengthens its governance structure while positioning itself for the next phase of growth in India’s competitive digital content and short-video market.

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(The above story first appeared on LatestLY on Mar 31, 2026 02:21 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).