Facor Steels Ltd. has informed that the Board of Directors of the company at its meeting held on March 14, 2013, has transacted the following: Mr. Anurag Saraf has tendered his resignation from the executive post of Joint Managing Director of the company with effect from March 14, 2013, and his resignation was duly approved by the Board of Director in their meeting. Mr. Anurag Saraf, however, shall continue to be the non-executive director of the company.