We hereby informed that Board of Directors of the Company at its meeting held on July 25, 2020, inter alia, have approved the re-appointment of Mr. Tushar Patel as Managing Director of the Company for a period of three years w.e.f. August 1, 2020, subject to the approval of Shareholders of the Company at the ensuing AGM. Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is also annexed along with this letter. Kindly take the same on your record.