Avon Mercantile Limited at its board meeting held on November 9, 2023, announced the demise of Late Mr. Rakesh Kumar Bhatnagar, Whole Time Director of the Company and it is noted that his directorship has ended on the date of his demise that is 26 September, 2023. The board of directors has accepted the resignation of Mr. Jagdutt Kumar Sharma (Manager), effective September 30, 2023. Upon the recommendation of Nomination and Remuneration committee, considered and approved the appointment of Mr. Gaurav Aggarwal as a Manager of the Company for a period of five years effective on November 9, 2023. Gaurav Aggarwal has post qualification experience of 8 years in financial accounting and taxation. Specialized in financial accounting, indirect taxation, preparing accounts, tax returns and Business MIS. Managing payroll processing functions, customer reconciliation,
bank reconciliation and reconciliation of other financial reports. Composition of Audit Committee of Directors: Mr. Siddheshwar Kumar Upadhyay, Non-Executive Independent Director - Chairman, Ms. Seema Salwan, Non-Executive Independent Director - Member and Mr. Gurvinder Pal Singh, Non-Executive Director - Member. Composition of Nomination and Remuneration committee: Ms. Seema Salwan, Non-Executive Independent
Director - Chairman, Mr. Siddheshwar Kumar Upadhyay, Non-Executive Independent Director - Member and Mr. Gurvinder Pal Singh, Non-Executive Director - Member. Composition of Stakeholders Relationship Committee: Mr. Gurvinder Pal Singh, Non-Executive Director - Chairman, Ms. Seema Salwan, Non-Executive Independent Director - Member and Mr. Siddheshwar Kumar Upadhyay, Non-Executive Independent Director - Member.