Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, this is to inform you that the Bank of India (BOI) has withdrawn the nomination of Mr. Bhoopesh Karaulia (DIN - 09472430), as their nominee on the Board of Directors of the Company effective after closure of business hours dated 18th day of May, 2023. The Company has received the communication from Banks vide letter no. BOI/PAL/2023-24/6 and the said letter is enclosed as Annexure - A. Consequently, Mr. Bhoopesh Karaulia (DIN - 09472430), ceases to be a member of the Board of Directors of the Company. We confirm that there is no other reason for his cessation as Nominee Director of the Company, other than those mentioned in the annexed letter. The details required under Regulation 30 of the Listing Regulations read with the SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed as Annexure - B.