Swan Defence Appoints New Company Secretary, Secures ₹800 Crores Financial Aid
Swan Defence and Heavy Industries Limited announced significant corporate developments including the appointment of Ms. Priti P. Dave as Company Secretary and Compliance Officer, and securing financial assistance of up to ₹800 crores from holding company Hazel Infra Limited. The decisions were approved in a board meeting held on December 17, 2025, with all regulatory disclosures made under SEBI Listing Regulations.
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Swan Defence and Heavy Industries Limited announced key corporate developments following its board meeting held on December 17, 2025, including the appointment of a new Company Secretary and securing substantial financial assistance from its holding company.
Key Board Decisions
The board of directors approved two significant decisions during the meeting that commenced at 5:00 p.m. and concluded at 6:17 p.m. The company appointed Ms. Priti P. Dave as Company Secretary and Compliance Officer, while also securing financial assistance of up to ₹800.00 crores from Hazel Infra Limited.
| Decision | Details |
|---|---|
| Company Secretary Appointment | Ms. Priti P. Dave (ACS 19469) |
| Effective Date | December 17, 2025 |
| Financial Assistance | Up to ₹800.00 crores |
| Funding Source | Hazel Infra Limited (Holding Company) |
New Company Secretary Profile
Ms. Priti P. Dave brings significant expertise to her new role as Company Secretary and Compliance Officer. She is an associate member of the Institute of Company Secretaries of India with membership number ACS 19469 and holds a Law Graduate degree. Her professional background includes 20 years of experience in secretarial and legal functions in listed entities of repute, with her most recent association being with Nilkamal Limited.
Under Section 203 of the Companies Act, 2013, Ms. Dave has also been designated as Key Managerial Personnel of the company, joining the existing KMP team that includes R Adm Vipin Kumar Saxena as Chief Executive Officer and Mr. Rajesh Bhardwaj as Chief Financial Officer.
Updated Key Managerial Personnel
The company has updated its list of Key Managerial Personnel effective from December 17, 2025, with all three KMPs authorized by the board for determining materiality of events and making disclosures to stock exchanges.
| Position | Name | Contact |
|---|---|---|
| Chief Executive Officer | R Adm Vipin Kumar Saxena | vipin.saxena@swan.co.in |
| Chief Financial Officer | Mr. Rajesh Bhardwaj | rajesh.bhardwaj@swan.co.in |
| Company Secretary & Compliance Officer | Ms. Priti P. Dave | pritidave@swan.co.in |
Financial Assistance Structure
The financial assistance arrangement involves a working capital loan agreement with Hazel Infra Limited, which holds 94.91% equity shares in Swan Defence and Heavy Industries Limited as the holding company. The transaction falls within related party transactions but will be conducted at arm's length as per regulatory requirements.
| Parameter | Details |
|---|---|
| Loan Amount | ₹800.00 crores |
| Lender | Hazel Infra Limited |
| Shareholding | 94.91% (Holding Company) |
| Purpose | Financial assistance |
| Agreement Status | Enabling resolution passed, formal agreement at transaction time |
Regulatory Compliance
The announcements were made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The enabling board resolution for the financial assistance has been passed, with the formal agreement to be executed at the time of actual transaction. This funding arrangement provides Swan Defence with enhanced financial flexibility to support its operations in the defence and heavy industries sector.
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