This is to inform that the Board of Directors at its Meeting held today i.e., December 14, 2022, considered and transacted inter alia the following business: 1. Noted the Resignation of Mr. Gagandeep Singh Bedi (DIN: 07844333) from the Office of Managing Director and also as Director of the Company with effect from the closing of business hours on December 31, 2022. The details of the resignation are enclosed below as 'Annexure- A'. 2. Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Company has approved the appointment of Mr. Sanjeev Panchal (DIN: 09823879), as Additional Director and also as Managing Director of the Company for a period of three (3) years with effect from January 1, 2023 subject to the approvals of the Members of the Company through Postal Ballot and Central Government, if so needed. Brief details of Mr. Sanjeev Panchal are enclosed below as 'Annexure- B'.