Swan Defence and Heavy Industries Limited approved a working capital funding arrangement of up to INR 8 billion and appointed a new company secretary at a board meeting held on 17 December 2025.
Swan Defence and Heavy Industries Limited, formerly known as Reliance Naval and Engineering Limited, said its board approved availing financial assistance of up to INR 8 billion from Hazel Infra Limited, the company’s holding entity. The filing states that the proposed facility is a working capital loan arrangement and that the enabling board resolution has been passed, with the agreement to be entered into at the time of the actual transaction. Hazel Infra Limited holds 94.91 percent of the equity shares of Swan Defence and Heavy Industries.
The transaction would fall within the scope of related party transactions and that no special rights such as board nomination, first right to share subscription, or restrictions on capital changes are applicable under the proposed agreement. Details such as security provided, execution date, or outstanding amounts will be determined at the time of entering into the loan agreement.
The board also approved the appointment of Priti P. Dave as Company Secretary and Compliance Officer with effect from 17 December 2025. Dave has also been designated as a Key Managerial Personnel (KMP) of the company.
Dave is an associate member of the Institute of Company Secretaries of India and a law graduate with around 20 years of experience in secretarial and legal functions at listed entities. Prior to joining Swan Defence and Heavy Industries, she was associated with Nilkamal Limited. Her appointment updates the company’s KMP structure, which also includes Chief Executive Officer Vipin Kumar Saxena and Chief Financial Officer Rajesh Bhardwaj.
Swan Defence and Heavy Industries Limited is engaged in defence and heavy engineering activities and operates from its registered office at Pipavav Port in Gujarat, with a corporate office in Mumbai. The company is listed on BSE and the National Stock Exchange of India.
