Swan corp Limited has announced the reconstitution of its Audit Committee following a Board resolution passed by circulation. The corporate governance restructuring became effective from February 20, 2026, as communicated to the stock exchanges on February 25, 2026.

New Audit Committee Composition

The reconstituted Audit Committee features a balanced mix of independent and executive directors to ensure effective oversight and governance. The committee structure demonstrates the company's commitment to maintaining robust corporate governance standards.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015, which mandates disclosure of material events and information. Swan Corp Limited communicated this development to both the National Stock Exchange Limited and BSE Limited simultaneously.

Committee Leadership

Mr. Rohinton Shroff has been appointed as the Chairman of the reconstituted Audit Committee. As a Non-Executive, Independent Director, his leadership role aligns with regulatory requirements for audit committee independence. The committee includes two independent directors and one executive director, ensuring appropriate balance between independence and operational insight.

Corporate Governance Framework

The Audit Committee reconstitution reflects Swan Corp Limited's ongoing commitment to strengthening its corporate governance framework. The committee will be responsible for overseeing financial reporting processes, internal controls, and audit functions. Company Secretary Saptarshi Ganguly signed the official communication, confirming the formal approval and implementation of these changes.

Swan corp Limited has announced the approval of a significant corporate guarantee worth Rs 1,150 crores for its step-down subsidiary. The company's Management Committee of the Board of Directors approved this guarantee on February 13, 2026, as part of securing financing for Swan Defence and Heavy Industries Limited.

Corporate Guarantee Details

The guarantee will secure a Rupee Term Loan sanctioned by National Bank for Financing Infrastructure and Development (NaBFID) to Swan Defence and Heavy Industries Limited, formerly known as Reliance Naval and Engineering Limited. This step-down subsidiary operates in the defence and heavy industries sector.

Regulatory Compliance and Disclosure

The announcement was made pursuant to Regulation 30 of the SEBI Listing Regulations, specifically under Para B of Part A of Schedule III. Swan Corp communicated this development to both National Stock Exchange Limited and BSE Limited, providing comprehensive details as required under the regulatory framework.

The company clarified that promoters, promoter groups, and group companies have no direct interest in this transaction, except for the indirect shareholding of Swan Corp Limited in Swan Defence and Heavy Industries Limited through a subsidiary entity.

Financial Impact Assessment

Corporate Structure and Relationships

Swan Defence and Heavy Industries Limited operates as a step-down subsidiary of Swan Corp Limited. The guarantee arrangement reflects the parent company's support for its subsidiary's financing requirements in the defence and heavy industries sector. The transaction maintains arm's length principles, with interests limited to respective shareholding structures.

The corporate guarantee represents a strategic financial commitment by Swan Corp to support its subsidiary's operational and growth financing needs through NaBFID's term loan facility.