Droneacharya Aerial Innovations Limited has accepted the resignation of Jayesh Sharad Kulkarni from the position of Company Secretary and Compliance Officer. The departure is effective from the closing hours of July 31, 2026, marking a change in the company’s key managerial personnel responsible for regulatory compliance.

The Board of Directors accepted the resignation on July 30, 2026, following Kulkarni’s formal tender to the board. The company disclosed the move pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In its filing with BSE Limited, Droneacharya confirmed that Kulkarni resigned to explore new professional opportunities.

Resignation Details

Kulkarni served as a Key Managerial Personnel (KMP) for the company. His last working day was July 31, 2026. The resignation was communicated to Managing Director Prateek Srivastava and other board members including Nikita Srivastava and Srinivas Rao.

The company stated that disclosures required under Schedule III of the SEBI Listing Regulations were attached to the intimation. This schedule mandates details regarding the reason for cessation and any relationships between directors, though no director relationships were applicable in this instance.

Regulatory Compliance

Droneacharya filed the intimation under two specific SEBI circulars: SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI/HO/CFD/CFD-PoD-2/CIR/2024/185 dated December 31, 2024. These circulars govern the disclosure norms for changes in key managerial personnel.

The filing was signed by Prateek Srivastava, Managing Director of Droneacharya Aerial Innovations Limited. The company has requested the stock exchange to take the matter on record. No successor has been named in the current disclosure.

What This Means

The exit of the Company Secretary creates an immediate vacancy in a critical compliance role. As a listed entity, Droneacharya must appoint a new qualified professional to ensure continued adherence to SEBI listing obligations. Until a replacement is appointed, the Board may need to manage compliance filings directly or through interim arrangements, which could impact the speed of regulatory disclosures if not handled efficiently.

The Regional Director, Mumbai, Ministry of Corporate Affairs, has levied a total compounding fee of ₹2,59,000 on droneacharya aerial innovation and its officers for a 56-day delay in holding the Annual General Meeting (AGM) for the financial year ended March 31, 2025. The fee was imposed following an application filed by the company under Section 441 of the Companies Act, 2013, to compound the alleged violation of Section 96 regarding the AGM timeline.

The Interim Order, dated July 01, 2026, identified the delay as a procedural non-compliance that was unintentional. The AGM for the period 2024-25 was due on September 30, 2025, but was conducted on November 25, 2025. The Regional Director noted that the company had rectified the default and that the act was not prejudicial to the interests of members or the public.

The compounding fee structure includes contributions from the company and its designated officers. The breakdown of the fees payable is detailed below:

The order directs the company and the concerned officers to remit the compounding fees within 30 days of the order date. The Regional Director considered factors such as the financial condition of the company, which reported a loss of ₹13,45,62,000 for the financial year 2024-25, and the absence of similar previous offences in determining the penalty.

Droneacharya Aerial Innovations Ltd stated that it is taking all necessary steps to comply with the directions contained in the Interim Order. The company submitted the disclosure to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.