Cravatex Ltd. announced at the annual general meeting of the company held on August 14, 2015, the company 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 upto August 13, 2020 or upto the date of Annual General Meeting to be held in the calendar year 2020, whichever is earlier.