CLC Industries Limited announced that In accordance with the provisions of the Plan as provided at clause 3.12, upon the NCLT Approval Date i.e. May 12, 2023, all the existing directors of the Company without any further action being required on the part of any person, shall be deemed to have resigned from the Board and its committees of the Company and the Board along with all the committees of the Company will be reconstituted to comprise of persons nominated by the Implementation and Monitoring Committee. Accordingly, the Implementation and Monitoring Committee at their meeting held on August 31, 2023, have approved the appointment of the following persons as Additional Directors of the Company to hold office from August 31, 2023, till the upcoming Annual General Meeting of the Company: Names: Mr. Sanchit Bhupendra Singh Rajpal, Mrs. Satinder Kaaur, Mr. Gautam Nandawat. Date of appointments: August 31, 2023.

Reason for change: Appointment pursuant to Plan. Further, all the existing directors of the Company be deemed to have resigned from the Board of Directors with effect from May 12, 2023 in accordance with the Plan. The details of such directors are provided herein below.

Names: Mukund Choudhary. Kapil Choudhary. Mohd Asim.

Date of cessations: May 12, 2023. Reason for change: Deemed Resignation pursuant to Plan. Mr. Sanchit Bhupendra Singh Rajpal is a son of Mr. Bhupendra Singh Rajpal, Additional Director of the Company.

Apart from above, none of the appointee directors are having any relationship with Mr. Bhupendra Singh Rajpal, Mr. Sanchit Bhupendra Singh Rajpal and the ceased directors of the Company who were associated with the Company as on May 12, 2023. Above appointed directors are not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India (SEBI) or any other such authority. Mr. Sanchit Bhupendra Singh Rajpal aged 36 is having experience of more than 10 years in cotton trade.

Mr. Sanchit joined business after completing Masters in FMB (Family Managed Business) from SP Jain Institute of management in 2007. He is responsible for the group sales & marketing & is heading exports arm of the group which now has a substantial share in country's cotton export trade. He has been awarded recently with the young achiever award (Marathwada Region) by Dainik Bhaskar group (A leading National Daily) With over 3 decades of presence in Cotton Processing & Trading Business, "Manjeet Group" is the operating player in private sector in the Cotton Trade holding dominant share in domestic and export business.

The group belongs to Rajpal family predominantly engaged in the cotton manufacturing & trading business. Mrs. Satinder Kaaur aged 41, is a highly accomplished and seasoned Financial Advisor and Trainer with an illustrious 12 years tenure in the financial industry. Mrs. Satinder Kaaur has completed her Bachelor's in Commerce from Mumbai University in the year 2002.

She is a Certified Financial Planner. Mrs. Satinder Kaaur has delivered comprehensive financial planning services to discerning clients, meticulously analyzing their financial circumstances, and tailoring bespoke investment strategies aligned with their distinct financial objectives. She has Offered expert counsel on retirement planning, investment management, tax planning, estate planning, and risk management, effectuating a holistic approach to safeguard clients' financial well-being.

She has also executed precise investment trades, diligently monitored portfolios, and furnished regular performance reports to clients, ensuring transparency and alignment with their financial aspirations. She had conducted an array of high-impact seminars, workshops, and personalized training sessions, facilitating enhanced financial literacy and promoting best practices in financial management. She had cultivated enduring client relationships, bolstering trust and loyalty through consummate customer service and unwavering support.

She had nurtured and mentored team members, fostering an environment of collaboration and continuous learning. Mr. Gautam Nandawat aged 66 years, is having 18 years of industrial experience including as Chief Executive and Commercial Director in Steel and Paper Industry. Mr. Gautam Nandawat is a Chartered Accountant and holding Certificate of Practice since 1980.

He has also completed his Professional course of Company Secretary. He has completed his Diploma in Information System Audit (ISA) by ICAI Certification in Ind-AS by ICAI. Mr. Nandawat was a President of Chamber of Marathwada Industries and Agriculture (CMIA) for a period of 2004-05.

Also, he was a Chairman of the Aurangabad Branch of the Institute of Chartered Accountants of India for two consecutive years. He was a director in Black Box Networking Services Pvt Ltd. and Bonatrans India Pvt. Ltd.