Pursuant to Regulation 30 of Listing Regulations, we wish to inform you that the Board of Directors, at its meeting held today i.e. 11th August, 2017, approved re-appointment of Mr. Chand Arora, as Managing Director of the Company for a further period of 1 year i.e. from 01st April, 2018 to 31st March, 2019, subject to approval of shareholders at ensuing Annual General Meeting of the Company.