Cravatex Ltd. has informed that the members at the 63rd Annual General Meeting held on August 14, 2015 have approved the appointment of Ms. Pheroza Jimmy Bilimoria as an Independent Director of the company to hold office for five consecutive years from the date of the 63rd Annual General Meeting up to August 13, 2020 or up to the date of Annual General Meeting to be held in the calendar year 2020, whichever is earlier.