AXISCADES Technologies Limited has announced the appointment of Mr. Giridhar Aramane as Additional Director in the category of Non-Executive, Independent Director, effective March 26, 2026. The appointment was approved by the Board of Directors through circular resolution based on the recommendation of the Nomination and Remuneration Committee, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The key details of Mr. Aramane's appointment are structured as follows:

Management Commentary

Commenting on the appointment, Dr. Sampath Ravinarayanan, Founder Chairman & Managing Director, AXISCADES Technologies Limited said, "We welcome Mr. Aramane as the Non-Executive Independent Director at AXISCADES. His extensive experience across government, infrastructure, and strategic policy brings invaluable perspective as we continue to strengthen our capabilities in engineering and technology solutions. His deep expertise in policy execution and large-scale program management will further enable us to navigate complex global markets with agility."

Mr. Giridhar Aramane said, "I am pleased to join the Board of AXISCADES Technologies Limited at a significant growth phase for the company, as engineering and technology continue to play a pivotal role in shaping global industries. AXISCADES has built strong capabilities across key sectors, and I look forward to contributing to its strategic priorities, strengthening governance frameworks, and supporting sustainable, long-term value creation."

Professional Background

Mr. Giridhar Aramane is a distinguished Indian Administrative Service (IAS) officer of the 1988 batch from Andhra Pradesh cadre. He served as Defence Secretary to the Government of India from November 1, 2022, until his retirement on October 31, 2024. Prior to his tenure in the Ministry of Defence, he held the position of Secretary in the Ministry of Road Transport & Highways from April 2020.

With over three decades of administrative experience, Mr. Aramane has held various key roles at both central and state levels. His responsibilities have included overseeing the Exploration Division in the Ministry of Petroleum & Natural Gas and serving as Executive Director in charge of inspections at the Insurance Regulatory and Development Authority (IRDAI).

Current Board Positions

Mr. Aramane currently holds several board memberships and appointments:

Educational Qualifications

Mr. Aramane holds a B.Tech. in Civil Engineering from Jawaharlal Nehru Technological University, Hyderabad, an M.Tech. from the Indian Institute of Technology, Madras, and an M.A. in Economics from Kakatiya University, Warangal.

Regulatory Compliance

The company has confirmed that Mr. Aramane is not debarred from holding the office of Director by virtue of any SEBI order or other regulatory authority. The appointment is subject to shareholder approval as mandated under Regulation 17 (1C) of SEBI (LODR) Regulations, 2015.

AXISCADES Technologies Limited has paid fines totaling ₹2.30 lakh to the National Stock Exchange (NSE) and BSE Limited for non-compliance with board composition requirements. The penalties were imposed for violations under Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, relating to board composition including failure to appoint a woman director.

Fine Details and Compliance Issues

Both stock exchanges imposed identical penalties on the company for the quarter ended December 2025. The fine structure and total amount are detailed below:

The exchanges issued notices dated February 27, 2026, referencing NSE letter Ref: NSE/LIST-SOP/COMB/FINES/0215 and BSE letter Ref: SOP-CReview/QTR-December 2025. The fines were levied under the SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Board Response and Action Plan

The company's board of directors addressed the matter in their meeting held on March 16, 2026. The board took note of the fine payment and provided specific guidance for future compliance:

• Advised the company to diligently evaluate suitable candidates to fill the vacancy
• Instructed management to take all necessary steps to complete appointments at the earliest
• Reaffirmed commitment to maintaining highest standards of corporate governance

Regulatory Framework and Consequences

The exchanges warned of escalated actions for non-payment within 15 days of the notice, including:

• Freezing of entire shareholding of promoters in the company and other securities
• Potential shifting of trading to 'Trade for Trade' basis or Z Category for consecutive defaults
• Continued daily fine accumulation until compliance is achieved

Regulation 17(1) specifically addresses non-compliance with board composition requirements, including the mandatory appointment of a woman director. The ₹5,000 daily penalty reflects the regulatory emphasis on maintaining proper board structure and diversity.

Corporate Governance Commitment

AXISCADES Technologies has publicly reaffirmed its dedication to regulatory compliance and corporate governance standards. The company's prompt payment of the imposed fines and board-level attention to the matter demonstrates its commitment to addressing compliance gaps and preventing future violations.

The company secretary and compliance officer, Sonal Dudani, communicated the board's response to both exchanges, emphasizing the organization's focus on swift resolution of the board composition issues and maintenance of regulatory standards.

Source: None/Company/INE555B01013/734ab086-7517-41c5-afdc-73087ebaacd9.pdf