Dear Sirs/Madam,
This is to inform you that the Board of Directors of the Company at its meeting held on 24.06.2017 has approved the following:
a. Acceptance of resignation of Mr. Vikram Limaye (DIN: 00488534) as Managing Director & CEO of the Company w.e.f. July 15, 2017.
The Board placed on record, its sincere appreciation for the long association and valuable services rendered by Mr. Limaye during his tenure with the Company.
b. Appointment of Mr. Sunil Kakar (DIN: 03055561) as an Additional Director of the Company w.e.f. July 16, 2017, subject to the approval of the Shareholders at the ensuing AGM of the Company.
c. Appointment of Mr. Sunil Kakar (DIN: 03055561) as Managing Director & CEO of the Company for a period of 3 yrs w.e.f. July 16, 2017, subject to the approval of the shareholders at the ensuing AGM of the Company.
A brief profile of Mr. Kakar is attached herewith and marked as Annexure 1.
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