Jyoti CNC Automation Limited has successfully completed its postal ballot process and formally appointed Mrs. Prafulla P. Shenoy (DIN: 06705629) as an Independent Director of the company. The company intimated both BSE and NSE about the appointment on March 14, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details and Term

Mrs. Prafulla P. Shenoy has been appointed as an Independent Director for a term of five years, effective from January 19, 2026 to January 18, 2031. The appointment follows the successful completion of the postal ballot process where the special resolution was passed with requisite majority.

Postal Ballot Results and Voting Process

The remote e-voting process commenced on March 13, 2026 at 9:00 AM IST and concluded on April 11, 2026 at 5:00 PM IST, with the scrutinizer declaring the special resolution as duly passed. The voting process witnessed substantial shareholder participation across all categories with an overall polling percentage of 84.65%. The cut-off date for determining voting rights was set as March 11, 2026.

Professional Background and Expertise

Mrs. Prafulla P. Shenoy brings extensive experience spanning over 36 years in development banking operations with IDBI and SIDBI. Her professional career covered diverse areas including Resource Raising and Management, Integrated Treasury Operations, Corporate Accounts, Institutional Finance, and Direct Finance. She was heading the Treasury and served as second in charge of Institutional Finance Vertical (Banks) prior to her retirement as General Manager of Treasury and Institutional Finance.

Scrutinizer Report and Compliance

The scrutinizer's report, issued by N S Dave & Associates on April 13, 2026, confirmed that the e-voting was conducted in accordance with Section 108 and 110 of the Companies Act, 2013. The resolution is deemed effective from April 11, 2026. Company Secretary and Compliance Officer Maulik B. Gandhi signed the formal intimation to both BSE and NSE exchanges.

The company has confirmed that Mrs. Shenoy is not debarred from holding the office of director by virtue of any SEBI Order or any other authority. The appointment has been made in compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, with complete profile and additional details provided to the stock exchanges.

Jyoti CNC Automation Limited has disclosed to stock exchanges about a significant regulatory investigation involving its wholly owned subsidiary Huron Graffenstaden SAS by French authorities. The company made this disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Investigation Details and Allegations

The National Directorate of Intelligence and Customs Investigations along with other French investigative authorities have initiated proceedings against Huron Graffenstaden SAS. The authorities suspect that the subsidiary exported certain machines with dual-use technology in violation of European Union laws. Dual-use technology refers to equipment that can be used for both civilian and military purposes, making it subject to strict export controls.

Interim Measures and Actions Taken

The French authorities have implemented several significant interim measures that directly impact the subsidiary's operations. These actions were detailed in the company's regulatory filing to both stock exchanges.

Company's Response and Operational Impact

Huron Graffenstaden SAS has received formal notice regarding the actions and refutes the allegations made against it. The subsidiary is currently seeking clarity from relevant authorities and legal advice to contest the charges strongly. According to the company's assessment, while certain seized assets and services of employees under investigation may not be available temporarily, current business and operations of Huron Graffenstaden SAS continue as usual.

Jyoti CNC Automation Limited has assessed that the investigation is not expected to have adverse impact on its standalone business and operations. The parent company contributes over 85% of revenue from operations for the group, providing significant operational independence from the subsidiary's current challenges.

Regulatory Compliance and Disclosure

The disclosure was made through official letters to both stock exchanges. Company Secretary and Compliance Officer Maulik B. Gandhi signed the regulatory filing, ensuring full compliance with listing requirements.

While the company acknowledges it is yet to fully ascertain the potential monetary impact beyond the currently seized assets, management maintains confidence that the investigation will not significantly disrupt the group's overall business operations given the parent company's dominant contribution to group revenues.