Excel Industries Limited announced that Mr. Collu Vikas Rao, Nominee Director, representing LIC of India, has stepped down from the position of the Nominee Director of the Company with effect from 26 September, 2022. Mr. Collu Vikas Rao informed the Company that consequent to his appointment as Insurance Ombudsman, he has resigned from the Board of the Company in order to avoid any potential conflict of interest.