Hyderabad, October 15, 2026: State-owned defence manufacturer Bharat Dynamics Limited (BDL) is facing scrutiny over a ₹56.8-crore procurement for 300 optical sights used with anti-tank guided missiles. The sole bidder, Aindri Defence Advisory Private Limited, was founded by BDL’s former Chairman and Managing Director Siddharth Mishra and his wife. The tender remains under financial evaluation and has not yet been finally awarded.
Aindri Defence Emerges as the Sole Bidder
Aindri Defence Advisory Private Limited was incorporated in May 2024 by Siddharth Mishra and his wife, Shambhavi Mishra. Shambhavi currently holds 95% of the company, while Mishra left its directorship before taking up a position at the National Company Law Tribunal.
Tender Valued at ₹56.8 Crore
BDL invited Aindri Defence to supply 300 optical sights, with the company quoting ₹56.8 crore for the order. Aindri has cleared the technical-evaluation stage on the Government e-Marketplace portal, while its financial bid is still being assessed.
Optical Sights Play a Critical Role in Missile Targeting
The optical sights are used in the targeting systems of anti-tank guided missiles. They help operators locate and track targets and align the missile with its intended target, making them important components in BDL’s missile-production ecosystem.
Single-Tender Route Limits Competition
Unlike an open tender, a single-tender procurement involves only one identified vendor. Such a route may be used in urgent situations or when a particular supplier is considered capable of meeting a specific requirement. BDL’s tender documents cited urgency, but the specific reasons for adopting this route were not publicly detailed in the reporting reviewed.
Earlier Procurements Followed Competitive Bidding
The 2026 procurement marks a departure from BDL’s recent approach to similar purchases. Optical-sight procurements in 2024 and 2025 were conducted through competitive tenders restricted to public-sector companies. India Optel Limited secured those orders.
Former BDL Chief’s Connection Raises Questions
Siddharth Mishra served as BDL’s Chairman and Managing Director from 2019 until March 2023. Aindri Defence was established approximately a year after his tenure ended. The family ownership connection has prompted questions about whether adequate safeguards were applied to prevent an actual or perceived conflict of interest. However, no finding of wrongdoing has been established.
Company Records Show Limited Physical Assets
A report on Aindri Defence’s financial records stated that its latest available balance sheet listed no property, manufacturing plant or other physical assets. For the 2024–25 financial year, the company reported revenue of ₹44.43 lakh and a profit of ₹2.89 lakh.
A visit to its listed Hyderabad office also found the premises locked at the time of inspection. These details do not independently establish a procurement violation but have added to scrutiny of the tender and the company’s capacity to fulfil the order.
Five Sample Units Underwent Validation
BDL’s procurement process followed the successful validation of five sample units supplied by Aindri Defence. The tender also requires the eventual supplier to provide technical support for at least 15 years, including maintenance, repair and overhaul services for the optical sights.
MSE Preference Marks Another Change
The latest tender includes provisions relating to Micro and Small Enterprises (MSEs). This differs from the previous two procurement rounds, which were exempted from such purchase-preference provisions.
No Public Response from BDL or Aindri
According to published reporting, BDL, Aindri Defence and the individuals connected with the company did not respond to detailed questions about the tender and the potential conflict-of-interest concerns.
The reporting reviewed did not establish that an official investigation had been announced or that any misconduct had been formally found.
Defence Procurement Transparency Under Scrutiny
The case has renewed attention on transparency in single-source defence procurement, particularly when former senior public-sector officials or their family members have links to participating vendors.
Key questions concern why a non-competitive procurement route was considered necessary, how the bidder’s technical and financial capacity was assessed, and what safeguards were applied to address potential conflicts of interest. The final outcome will depend on the procurement process and any subsequent official findings.
Source: The Indian Express
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