Credit Analysis and Research Ltd. has informed that the Board of Directors of the Company at its meeting held on August 05, 2016, inter alia, have declared a first interim dividend of INR 6 per equity share of INR 10 each for financial year 2016-2017. The company has fixed August 20, 2016 as a record date for the first interim dividend.

The board approved that, the tenure of Mr. D. R. Dogra, Managing Director and CEO will expire on August 21, 2016. The Board of Directors have appointed Mr. Rajesh Mokashi, Deputy Managing Director of the Company as the Managing Director and CEO of the Company with effect from August 22, 2016 for a period of five years subject to the approval of the shareholders at the ensuing Annual General Meeting.