DroneAcharya Aerial Innovations Limited has received interim relief from the Securities Appellate Tribunal (SAT), enabling the company and its promoters to raise funds for working capital requirements and execution of time-bound work orders. The order, dated February 03, 2026, provides specific permissions while the main appeal against SEBI remains pending.

SAT Order Details

The Securities Appellate Tribunal, Mumbai, passed the interim relief order in Miscellaneous Application No. 108 of 2026 in Appeal No. 549 of 2025. The application was filed by the company and its promoters seeking specific interim reliefs to address operational funding requirements.

Permitted Fund Raising Activities

The SAT order grants the following specific permissions to address the company's funding needs:

• Preference Share Issue: The company can raise funds through preference share issues with mandatory disclosure of SEBI's order dated November 28, 2025, and the pendency of the current appeal to prospective investors
• Share Pledging: Promoters Mr. Prateek Srivastava and Mrs. Nikita Srivastava can pledge their shares with banks and financial institutions strictly for raising working capital and executing existing time-bound orders
• Asset Liquidation: Mrs. Nikita Srivastava is permitted to liquidate her mutual fund investments

Background and Ongoing Proceedings

The interim relief order follows the company's previous communication dated December 20, 2025, regarding a stay order on penalty recovery. The main appeal against SEBI's order dated November 28, 2025, continues to remain pending for final adjudication before the tribunal.

Compliance and Disclosure

The company has made the announcement in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the Industry Standards Format (ISF) adopted for uniform disclosures across listed entities, ensuring transparency regarding the tribunal's decision and its implications for the company's operations.

DroneAcharya Aerial Innovations Limited has appointed two new Independent Directors to its Board of Directors, effective December 31, 2025. The appointments were approved during a Board meeting held at the company's registered office in Pune, Maharashtra.

New Board Appointments

The company appointed Mrs. Meenakshi Gupta and Mr. Shyam Jedhe as Non-Executive Independent Directors to fill casual vacancies on the Board. These appointments are subject to approval from the company's shareholders.

Director Profiles and Qualifications

Mrs. Meenakshi Gupta brings over 21 years of post-qualification experience as a Chartered Accountant. Her expertise spans audit and assurance, Ind AS advisory, corporate and allied laws, direct taxation, regulatory compliance, and people leadership. She has extensive experience with statutory audits of BSE and NSE listed entities, tax and internal audits, and governance advisory services. Her background includes experience with Deloitte Haskins & Sells, providing her with exposure to global audit methodologies and international best practices.

Mr. Shyam Jedhe is a seasoned finance leader with nearly three decades of experience across financial operations, corporate finance, controllership, and strategic leadership. He has worked extensively with multinational and high-growth organizations, demonstrating strong business acumen and hands-on leadership. His notable tenure includes serving as Global Controller and Factory Commercial at Siemens Ltd., where he strengthened his expertise in global finance operations and manufacturing finance. He holds a Master's degree in Financial Management with an engineering background and has completed executive education programs from IIM Calcutta, IIM Ahmedabad, and IIM Bangalore.

Committee Reconstitution

Following the new appointments, DroneAcharya reconstituted its Board committees to ensure compliance with the Companies Act, 2013 and SEBI LODR Regulations, 2015.

Audit Committee

Nomination and Remuneration Committee

Stakeholders Relationship Committee

Regulatory Compliance

Both newly appointed directors satisfy the criteria of independence prescribed under the Companies Act, 2013 and SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company confirmed that neither Mrs. Gupta nor Mr. Jedhe are debarred from holding the office of Director by any regulatory authority. Additionally, both directors are not related to any existing Director of the company as defined under Section 2(77) of the Companies Act, 2013.

The Board meeting commenced at 2:00 PM and concluded at 4:15 PM on December 31, 2025. The company also considered and fixed the date, venue, and time for convening an Extra-Ordinary General Meeting to seek shareholder approval for these appointments.