Karnavati Finance Ltd. has informed that the Board of Directors of the Company at its meeting held on April 13, 2016 have approved: the appointment of Ms. Hardika Mandavia as an Additional (Non- Executive Impendent) Director of the Company with effect from April 13, 2016 and, the resignation of Mr. Kushal Ruparel from the Board of the Company with effect from April 13, 2016.