Pursuant to the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulation, 2015, we wish to inform you that the Board of Directors of the Company at its meeting held on January 14, 2022, inter alia, has appointed Shri Ashwin Laddha as Chief Executive Officer of the Company (CEO) with effect from January 14, 2022. Further, the Board of Directors of the Company has also in-principle decided to appoint Shri Ashwin Laddha as Managing Director & CEO of the Company with effect from April 1, 2022, in place of Shri M. L. Pachisia whose tenure of appointment as Managing Director of the Company shall be expiring on 31st March, 2022, on such terms and conditions as may be decided by the Board of Directors of the Company at a subsequent meeting and subject to compliance of such formalities as may be required.