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

Axiscades Technologies board has approved the acquisition of the remaining 24% stake in Cades Studec Technologies India Private Limited (CSTI) for USD 1,500,000. The board meeting held on March 16, 2026, authorized the purchase of 1,50,000 equity shares from STUDEC SAS France, which will transform CSTI into a wholly owned subsidiary.

Acquisition Details

The strategic acquisition will give Axiscades Technologies complete ownership of CSTI, increasing its shareholding from the current 76% to 100%. The transaction involves cash consideration and is structured to strengthen the company's position in the technical documentation sector.

Target Company Profile

Cades Studec Technologies India Private Limited operates as a leading provider of end-to-end technical documentation solutions. The company serves global leaders across aerospace, automotive, and renewable energy industries, focusing on accuracy, innovation, and industry compliance.

CSTI's three-year revenue trajectory shows consistent growth, with turnover increasing from Rs. 16,94,42,978.00 in FY22-23 to Rs. 19,25,02,535.00 in FY23-24, and further to Rs. 19,84,91,166.54 in FY24-25.

Business Operations and Expertise

CSTI specializes in producing state-of-the-art digital and 3D-based documentation, including interactive maintenance manuals, illustrated parts catalogues, animations, and training content. The company integrates advanced tools and technologies to create intuitive, immersive, and user-centric documentation experiences.

The subsidiary's business operations align with Axiscades Technologies' core activities in architecture and engineering services, technical testing, and analysis. This strategic fit supports the parent company's expansion in technical publications and documentation services.

Related Party Considerations

The acquisition qualifies as a related party transaction under the Companies Act, 2013, as CSTI is already a subsidiary of Axiscades Technologies. Key managerial personnel connections include Mr. Shashidhar SK, Group CFO, who serves as a director in CSTI, and both Mr. Shashidhar SK and Ms. Sonal Dudani, Company Secretary, hold 100 shares each as nominee shareholders.

Transaction Timeline

The proposed acquisition is expected to complete by June 2026, subject to fulfillment of conditions precedent and pre-closing actions. No governmental or regulatory approvals are required for this transaction, facilitating a streamlined completion process.