Mr. Kana Ram (DIN: 05332461) Independent Director of Flora Textiles Limited has resigned from the position of Independent Director on account of Personal and unavoidable circumstances, effective March 04, 2023. The Board noted the same and approved the resignation of Mr. Kana Ram (DIN: 05332461) as Independent Director of the Company. The Board has considered and approved the appointment of Ms. Payal Bafna (DIN: 09075302) as an Additional Director of the Company for a period of five years from the date of appointment i.e 29th April, 2023 pursuant to recommendation of Nomination and Remuneration Committee, subject To Approve the Members.

Ms. PAYAL BAFNA holds Bachelors of Law (LLB) from Fakir Mohan University, Orissa and Associate Company Secretary and Accounting Technician Course from ICAI lastly has B.com (Hons.) in Finance & Accounts from Calcutta University. Also she Cleared Independent Directors Exam conducted by the Indian Institute of Corporate Affairs. CS Payal Bafna is an Associate Member of ICSI and a lawyer with experience in diverse fields of Company Law, Corporate Governance, Legal Compliance, Corporate Social Responsibility and Quality Control.

She is having good exposure in Company Law, Securities Exchange Board of India (SEBI) Act, Rules and Regulations, Listing Agreement, Foreign Exchange Management Act (FEMA). Handled various projects such as Acquisition, Mergers and Demergers. Independently completed the assignments such as Takeover of Listed Companies, Incorporation of Companies.

Ifter having worked across a few listed companies for more than 7 years as Company Secretary, (Compliance Officer and Legal Manager, and She started her owned practice for some time. Ms. Payal Bafna has an illustrious academic career backed by Accounting Technician Certificate issued by ICAI. The Board approved the reconstitution of the Board Committees, effective 29th April, 2023 as: Audit Committee: Indarchand Prajapathi, Chairman, Payal Bafna and R Hemchandgupa as Members.

Nomination and Remuneration Committee: Payal Bafna, Chairman, Indarchand Prajapathi and R Hemchandgupa as Members. Risk Management Committee: Payal Bafna, Chairman and Nidhi Gupta as Member.