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

[AXISCADES Technologies Limited](axiscades engineering technologies) has issued a postal ballot notice seeking shareholder approval for the slump sale of its engineering services businesses to Akkodis Group entities. The company proposes to transfer its Heavy Engineering, Automotive, and Energy businesses for an aggregate consideration of USD 30.63 million, and its Aerospace Industries business for USD 152.35 million. These transactions are part of a strategic shift towards an IP and manufacturing-led growth model. The remote e-voting process commences on June 28, 2026, and concludes on July 27, 2026.

Slump Sale of Heavy Engineering and Automotive Business

The Board approved the sale of the engineering services business in Heavy Engineering, Automotive, and Energy industries to Akkodis India Private Limited, Akkodis UK Limited, and Akkodis Inc. The aggregate consideration for this transfer is USD 30.63 million, payable in three tranches: USD 17.42 million at closing, USD 5.81 million deferred for 12 months, and an earnout of USD 7.4 million contingent on EBITDA performance by June 30, 2027. The valuation is based on a report by M/s. SSPA & Co., Chartered Accountants.

Transfer of Aerospace Engineering Services

Shareholders are asked to approve the transfer of the Aerospace Industries engineering services business to new subsidiaries to be incorporated in India and acquired in Switzerland. This business transfer is valued at USD 152.35 million, subject to post-closing adjustments. The transaction involves the transfer of assets and liabilities from the company and its subsidiaries, including Cades Studec Technologies (India) Private Limited, AXISCADES GmbH, and AXISCADES UK Limited, to new entities such as New India Co. and Overseas HoldCo.

Related Party Transactions and Divestment

The notice includes an ordinary resolution for material related party transactions with the new subsidiaries, involving an investment of up to CHF 12,500,000 in Overseas HoldCo. Additionally, a special resolution seeks approval for the divestment of the company's shareholding in New India Co. and Overseas HoldCo. in two tranches. The aggregate consideration for this divestment is up to USD 206.30 million, with a minimum of USD 153.72 million and an additional performance-linked consideration of USD 52.58 million.

Increase in Investment Limits

The company proposes to enhance the overall limit for investments, loans, guarantees, and securities under Section 186 of the Companies Act, 2013 from INR 750 Crore to INR 2,000 Crore. This increase is intended to provide the Board with the flexibility to pursue acquisitions in the Aerospace and ESAI segments and to support the incorporation of new subsidiaries as part of the proposed transactions.

Postal Ballot and E-Voting Details

The remote e-voting process commences at 9:00 AM IST on Sunday, June 28, 2026, and ends at 5:00 PM IST on Monday, July 27, 2026. Shareholders whose names appear in the Register of Members as of the cut-off date, Friday, June 19, 2026, are eligible to vote. The results of the postal ballot will be announced on or before Wednesday, July 29, 2026. The scrutinizer for the process is CS Pramod S. M. or CS Biswajit Ghosh of M/s. BMP & Co. LLP, Company Secretaries.