Akshar Spintex Limited informed that Mr. Jagdish D. Otradi, Chief Financial Officer ("CFO") and Key Managerial Personnel has tendered his resignation due to personal reasons. The company shall be placed his resignation letter
before the Board of Directors of the company at immediate next Board Meeting and he shall be relieved from his duties as CFO with effect from the immediate next Board Meeting. The company is in the process of identifying a suitable replacement and shall inform the stock exchanges in due course, in accordance with the applicable regulations.