Religare Enterprises Limited in its board meeting held on February 17, 2018, approved the appointment of Mr. Vikram Talwar as Independent Director for a term of five consecutive years from the date of appointment with effect from February 17, 2018, subject to the approval of the shareholders. Mr. Vikram Talwar is not related to any other Director on the Board of Directors of the Company. The board also appointed Mr. P. Vijaya Bhaskar as Independent Directors for a term of five consecutive years from the date of appointment with effect from February 17, 2018, subject to the approval of the shareholders.

Mr. P. Vijay Bhaskar is not related to any other Director on the Board of Directors of the Company. The board also appointed Mr. Siddharth Mehta as Non-Executive Non-Independent Director, subject to the approval of the Reserve Bank India. His appointment will be effective post approval of the RBI.

Further, Mr. Mehta is not related to any other Director on the Board of Directors of the company. The board also appointed Mr. Ashok Mehta, Independent Director has been appointed as Whole-time Director and Interim CEO of the company with effect from February 17, 2018, subject to the approval of the RBI. His appointment as Whole-time Director and Interim CEO is subject to the approval of the RBI.

Further, Mr. Mehta is not related to any other Director on the Board of Directors of the company. The appointment of Mr. Siddharth Mehta and Mr. Ashok Mehta will also be subject to shareholders approval. Mr. Vijaya Bhaskar will chair the audit committee.

As previously announced, Mr. Malvinder Singh and Mr. Shivinder Mohan Singh, promoters of the company have resigned from the board and have no further association with the company nor any responsibilities for its management and governance.