Jyoti CNC Automation Limited has informed the Exchange about Action(s) initiated or orders passed
JYOTICNC · price
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French customs and intelligence authorities have opened a formal judicial investigation into Jyoti CNC's wholly owned subsidiary Huron Graffenstaden SAS, along with some of its employees, over suspected violations of EU export control rules on dual-use machinery. As interim measures, the subsidiary's director general has been temporarily barred from his duties, bank accounts totalling about EUR 4 million have been seized, and two residential properties owned by Jyoti SAS have also been seized. The subsidiary has refuted the allegations and is seeking legal advice to contest them. The parent company stressed that Jyoti CNC on a standalone basis accounts for over 85% of group revenue, and that the subsidiary's day-to-day business is continuing as usual with no expected material impact on the listed entity.
The immediate financial exposure is contained at the subsidiary level (around EUR 4 million in seized cash), but lingering legal uncertainty, possible future penalties, or operational restrictions in France could keep the stock volatile. Investors should monitor further updates on the investigation's progress and any escalation.