Mumbai, April 13 -- The probe relates to alleged violations of export control rules involving dual-use machinery. Authorities have taken interim actions, including restricting the subsidiary's director general from discharging duties.

They have also seized certain bank accounts worth around EUR 4 million and two residential properties owned by Jyoti SAS.

The subsidiary has denied the allegations and is seeking legal advice. It said it will contest the matter.

Jyoti CNC Automation stated that operations at Huron Graffenstaden SAS continue as usual. The company does not expect any immediate material impact, noting that over 85% of its revenue comes from standalone operations.

Jyoti CNC Automation is engaged in the manufacturing of metal...