Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that based on recommendation of Nomination and Remuneration committee and Audit Committee held on earlier today, subject to the approval of the Shareholders of the Company, the Board of Directors of the Company, at its meeting held on today i.e. 28th June, 2025 has appointed Mr. Lakshmi Niwas Bangur (DIN 00012617) an existing Director (Category - Non-Executive, Promoter) as Managing Director (Category - Executive, Promoter) of the Company with immediate effect i.e. 28th June, 2025 to hold office for a term of upto 3 (three) consecutive years. Further, Mr. Lakshmi Niwas Bangur has not been debarred from holding office of Director by virtue of any order passed by the Securities and Exchange Board of India or any other such authority.