AXISCADES Technologies Limited has appointed Abhay Maheshwari as an Additional Director in the Non-Executive, Non-Independent category effective June 29, 2026. The Board of Directors approved the appointment based on the recommendation of the Nomination and Remuneration Committee. This strategic addition to the board aims to strengthen the company's financial leadership and governance capabilities.

The appointment is subject to approval by the shareholders in terms of Regulation 17(1C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company affirmed that the appointee is not debarred from holding the position of director by any SEBI order or other authority, pursuant to relevant circulars issued by NSE and BSE.

Profile of the Appointee

Abhay Maheshwari is a seasoned finance executive with 18 years of experience across corporate finance, fundraising, IPO, and finance transformation. He is a Chartered Accountant and an alumnus of IIM Indore. His expertise spans capital and liquidity management, investing, and executing high-impact transactions to drive long-term business value.

Maheshwari is recognised for his professional judgment and analytical rigour. He has collaborated with founders, institutional investors, and C-suite leaders to align financial strategy with business priorities. His career includes significant contributions to transaction structuring, capital allocation, and governance-focused financial oversight.

Key Appointment Details

The Board meeting commenced at 11:00 AM IST and concluded at 01:50 PM IST on June 29, 2026. Sonal Dudani, Company Secretary & Compliance Officer, signed the regulatory filing confirming the appointment.

AXISCADES Technologies Ltd has remitted a total fine of ₹4,95,600 to stock exchanges following a penalty imposed for non-compliance with regulations regarding the composition of its Board of Directors. The payment resolves the issue identified by the National Stock Exchange of India Limited and BSE Limited for the quarter ended March 31, 2026, concerning Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors of the company reviewed the details of the fine during its meeting held on June 29, 2026. The Board confirmed that the composition of the Board had been duly regularized and brought into compliance with applicable regulations on March 26, 2026, prior to the payment of the penalty.

Breakdown of Penalty

The fine structure included a basic penalty of ₹4,20,000 and an additional Goods and Services Tax (GST) of ₹75,600. The exchanges had levied a charge of ₹5,000 per day for the period of non-compliance, which totaled 84 days.

Regulatory Context

The notices issued by the exchanges on May 27, 2026, referenced the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. This circular outlines the standard operating procedure for imposing fines and suspending trading in cases of non-compliance. The company was required to pay the fine within 15 days of receiving the notice to avoid further actions such as the freezing of promoter shareholdings or a shift to the 'Trade for Trade' category.

AXISCADES Technologies Limited stated that it remains committed to upholding the highest standards of corporate governance and regulatory compliance. The company informed the exchanges that the necessary rectifications had been completed well before the board meeting on June 29, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE555B01013/98c866c92f4b48a9.pdf