We hereby inform you that the Board of Directors of the company on the meeting held on 06th June, 2019 has taken on record the following matters: 1. We wish to inform you that Mr. Nemchand Gala, Managing Director, of our Company, has submitted his letter of resignation dated June 03, 2019 resigning as Director and Managing Director of our Company on account of disqualification under Section 164(2) of Companies Act, 2013. 2. The Board of Directors ('the Board), at its meeting held today (June 06, 2019), has accepted Mr. Nemchand Gala resignation and consented to relieve him of his responsibilities effective close of business hours on June 6, 2019. 3. With the permission of the Chairman the Board has hereby approved the appointment of Mr. Hiren Boricha as the Additional and Managing Director of the Company. 4. This letter may be treated as communication under Regulation 30 and other applicable provisions, if any, of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.