CARE Ratings Limited at their meeting held on April 26, 2022, considered and accepted the resignation of Mr. Ajay Mahajan as the Managing Director and Chief Executive Officer of the Company due to personal reasons. Accordingly, Mr. Ajay Mahajan will be relieved from the services as the Managing Director and Chief Executive Officer of the Company effective from the close of business hours on May 31, 2022. Consequently, he shall also cease to be Key Managerial Personnel of the Company in terms of Section 203 of the Companies Act, 2013.