This is to inform that the promoter entities of India Nippon Electricals Limited viz., Lucas Indian Service Limited (LIS), Mahle Electric Drives Japan Corporation (MEDJ) and Mahle Holding India Private Limited (MHIPL) have executed an agreement titled, `Termination Agreement and Mutual Release' on July 17, 2023 and the details thereof furnished to the Stock Exchanges. The Non-executive Directors of the Company representing Mahle Holding India Private Limited and Mahle Electric Drives Japan Corporation, as detailed below, have tendered their resignations July 19, 2023. Mr. Jakob Ruemmler (DIN: 09237428), Non-Executive Director (Representing Mahle Holding India Private Limited) Resignation to take effect from the closing hours of 19th July 2023 Mr. Kiyoyasu Kawakami (DIN: 09283649) Non-Executive Director (Representing Mahle Electric Drives Japan Corporation) Resignation to take effect from the closing hours of 19th July 2023.