AXISCADES Engineering Technologies Limited announced that Mr. Mritunjay Singh, current CEO and Executive Director (Key Managerial Personnel), has conveyed his intent to step down from the office of Chief Executive Officer and Executive Director of the Company, due to personal reasons. The Board took note of the above and has formally accepted the resignation of Mr. Mritunjay Singh with immediate effect, January 19, 2019. The Board in its meeting held on January 19, 2019 has considered and approved the appointment of Mr. Sharadhi Chandra Babu, currently Chief Operating officer of wholly owned subsidiary AXISCADES Aerospace & Technologies Pvt.

Ltd. as additional director in the capacity of the Acting Chief Executive Officer (CEO) and Executive Director of the Company with effect from 21st January 2019 for the interim. The shall be an additional charge to his current responsibilities Sharadhi Chandra Babu is an Electronics & Communication Engineer cum Aeronautical Professional and an Entrepreneur with over 30 years of industry experience. Sharadhi has worked in Indian Air Force, MNCs, has been on several overseas assignments, pioneered Product Development and Service businesses, synergized acquisitions, managed key Clients.

He had earlier served as an Aeronautical Engineering Officer in the Indian Air Force under the Short Service Commission, handling technology and operations of complex Radar, Communication, Data Handling and associated systems and had served as CEO of erstwhile CADES immediately after its acquisition .