Mahindra CIE Automotive Limited announced that Mr. Narahari Kadambi and Mr. Dhananjay Mungale, the Independent Directors of the Company shall complete their term of appointment on the date of 24th Annual General Meeting i.e. 9th June, 2023. Mr. Narahari Kadambi was appointed as Independent Director of the Company in the first term which commenced from 29th September 2019 and Mr. Dhananjay Mungale was re-appointed as Independent Director of the Company for a second term commenced from 29th September, 2019. The term of appointment of both Mr. Kadambi and Mr. Mungale was upto the date of Annual General Meeting to be held following completion of 70 (Seventy) years of their age, subject to the condition that the term shall not exceed five consecutive years commencing from 29th September, 2019.

Accordingly, Mr. Narahari Kadambi and Mr. Dhananjay Mungale completes their term of appointment as Independent Directors of the Company i.e. on 9th June, 2023 and ceases to be Independent Directors of the Company with effect from 10th June, 2023.