Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors at its meeting held on 24th May, 2023, has, inter alia based on recommendation of Nomination and Remuneration Committee and Audit Committee approved the reappointment of Sri Venkat Akkineni (DIN: 00013996) as Managing Director of the Company for a period of five years with effect from 1st August, 2023 to 31st July, 2028, subject to approval of the shareholders of the Company at the ensuing Annual General Meeting.