J.K. Cement Limited announced that Mr. Ajay Narayan Jha has resigned from the position of Independent Director of the Company with effect from 8 February, 2024. The Company has received email/letter dated 8 February, 2024 from Mr. Ajay Narayan Jha stating that he has been appointed by the President of India as a Member of the Sixteenth Finance Commission vide Ministry of Finance (Department of Economic Affairs) Notification S.0. 369(E) dated 30 January 2024 and in terms of the Finance Commission Act, 1951, he should have no such financial or other interest as is likely to affect prejudicially his functions and duties as a Member of the Commission. Therefore, tendered resignation as an Independent Director from the Board of Directors including Corporate Social Responsibility Committee, Audit Committee and Nomination and Remuneration Committee of JK Cement Limited, effective closure of business hours on February 08, 2024.

He further confirmed that there is no material reason other than as mentioned above for stepping down from the position of Independent Director of the Company. The list indicating category of his directorship and membership of the Board Committee's in the other listed entities before resignation becoming effective: Yatra Online Limited as Independent Director and Audit Committee and Stakeholder Relationship Committee; India Shelter Finance Corporation Limited as Independent Director and Corporate Social Responsibility Committee Risk Management Committee and Stakeholders Relationship Committee.