Swan Defence & Heavy Industries Limited has announced the appointment of Mr. Jayaramakrishnan Kannan as Additional Independent Director through a board resolution passed on March 31, 2026. The appointment, which requires shareholder approval, demonstrates the company's commitment to strengthening its board governance structure with experienced industry professionals.

Board Resolution Details

The company's Board of Directors approved the appointment via circular resolution on March 31, 2026, following recommendations from the Nomination and Remuneration Committee. The appointment is structured as follows:

Professional Background

Kannan brings substantial industry expertise to the board, having retired as Vice President and Head of Global Alliances at Tata Consultancy Services. His professional credentials include:

• Industry Experience: Approximately 40 years in the IT sector
• TCS Tenure: Over 30 years in various positions across India and international markets
• Educational Background: Post-graduate in Management with specialization in Systems and Marketing from Bajaj Institute of Management, Mumbai
• Current Board Positions: AiQOD, Mitraa, Amitech, Manisha Soft Solutions, and Pillar Rocks
• Advisory Roles: Check Point, Krya, Method Hub, and Mitraa Deep Tech

Regulatory Compliance

The appointment adheres to regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Key compliance aspects include:

• Kannan is not related to any existing directors of the company
• He is not debarred from holding directorship by SEBI or any other regulatory authority
• The appointment follows proper board committee recommendations
• Full disclosure documentation has been provided as per regulatory mandates

Postal Ballot Process

Shareholders will vote on the appointment through a postal ballot mechanism scheduled for March 31, 2026. The resolution requires special resolution approval and will be conducted through remote e-voting to ensure broad shareholder participation.

This strategic appointment reflects Swan Defence and Heavy Industries Limited's focus on enhancing board expertise, particularly given Kannan's extensive technology and global business experience that could prove valuable for the company's operational and strategic initiatives.

Swan Defence & Heavy Industries Limited has issued a clarification to BSE Limited regarding a significant increase in trading volume, responding to regulatory inquiry dated March 30, 2026. The company addressed concerns about unusual market activity in its scrip through an official communication signed by Company Secretary Priti P. Dave.

Regulatory Compliance Statement

The company provided a comprehensive response to BSE's inquiry, emphasizing its adherence to disclosure requirements. Swan Defence confirmed that it has made all necessary disclosures pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015.

Material Information Disclosure

The company explicitly stated that it has not withheld any material information or events that could influence price or volume behavior in the scrip. This clarification addresses potential market concerns about undisclosed developments that might have contributed to the trading volume surge.

Swan Defence emphasized that all information furnished by the company remains in the public domain, ensuring transparency for market participants and regulatory authorities.

Ongoing Compliance Commitment

The company reaffirmed its commitment to maintaining compliance with SEBI (LODR) Regulations, 2015. Swan Defence assured that it will continue to keep stock exchanges informed of all price-sensitive information as required under regulatory frameworks.

The response was digitally signed by Company Secretary Priti P. Dave (ACS: 19469) on March 30, 2026, at 11:42:57 +05'30', providing official authentication to the regulatory communication.

Company Background

Swan Defence and Heavy Industries Limited, formerly known as Reliance Naval and Engineering Limited, operates from its registered office at Pipavav Port, Gujarat, with corporate office located in Mumbai's Ballard Estate. The company maintains its commitment to regulatory transparency while addressing market inquiries promptly.