Rico Auto Industries : Cessation

• 11:0AUTOIII

REGO. & COR P. OFFI CE: 38 KM STONE , DELHI-JAI PUR HIG HWAY , GURUGRAM -122001, HARYANA (INDIA)

EMAIL: [e-mail] WEBSITE : www.ricpauto.in TEL.: [phone] FAX: [phone]

CIN: L34300HR19 83PLC 023187

RAIL:SEC:2022	August 26, 2022
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers	Exchange Plaza,
Dalal Street	5th Floor, Plot No.C/1, G Block
Mumbai - 400001	Bandra-Kurla Complex, Sandra (E)
	Mumbai - 400 051
Scrip Code - 520008	Scrip Code - RICOAUTO

Sub : Outcome of Board Meeting held on 25th August, 2022

Dear Sir/Madam,

Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors have approved the following in the aforesaid meeting:

1.

2.

Mr. Kaushalendra Verma who is presently Managing Director of Rico Fluidtronics Limited, a Subsidiary of Rico Auto, ha� been appointed as "Whole-timeDirector" with effect from 26th August' 22, on the Board of the Company in compliance with the SEBI (LODR) Regulations, 2015, subject to approval of the Shareholders and has not been debarred from being appointed as Director by any order of SEBI or any other authority.

Mr. Rajiv Kumar Miglani who is presently Managing Director of Rico Aluminium and Ferrous Auto Components Limited (RAFA), a Subsidiary of Rico Auto, has been appointed as "Whole-timeDirector" with effect from 26th August' 22, on the Board of the Company in compliance with the SEBI (LODR) Regulations, 2015, subject to approval of the Shareholders and has not been debarred from being appointed as Director by any order of SEBI or any other authority.

1. Mr. Samarth Kapur, son of Mr. Arun Kapur, who is presently Whole-time Director of Rico Jinfei Wheels Limited, a Subsidiary .of Rico Auto, has been appointed as "Whole-timeDirector" with effect from 26th August' 22, on the Board of the Company in compliance with the SEBI (LODR) Regulations, 2015, subject to approval of the Shareholders and has not been debarred from being appointed as Director by any order of SEBI or any other authority.
2. Mr. Hemal Bharat Khandw�la has been appointed as "Independent Director" with effect from 26th August' 22, on the Board of the Company in compliance with the SEBI (LODR) Regulations, 2015, subject to approval of the Shareholders and has not been debarred from being appointed as Director by any order of SEBI or any other authority.

5. Mr. Arun Kapur, Joint Managing Director (Promoter Director) has desired to discontinue as Director and consequently as Joint Managing Director of the Company with effect from close of business hours on 25th August' 22 to make place for his son, Mr. Samarth Kapur who has been appointed as Whole-time Director of the Company w.e.f. 26th August' 22 to carry forward the vision of the Company. Mr. Arun Kapur has made major contribution to the success of the Company over the last 38 years right from its inception with his vast experience, knowledge and wisdom from time to time.

IAUTOIII

REGO. &'COR P. OFFI CE: 38 KM STONE, DELHI-JAI PUR HIG HWAY , GURUGRAM-122001, HARYANA (INDIA)

EMAIL: [e-mail] WEBSITE : www.ricoauto.in TEL.: [phone] FAX: [phone]

CIN: L34300HR19 83PLC 023187

1. Mrs. Upasna Kapur, Promoter Director, who is retiring by rotation, has desired not to continue as Director, to make way for induction of Professional Directors, from the conclusion of the forthcoming Annual General Meeting.
2. The following Committees of Board of Directors have been re-constituted. The revised composition of the Committees are given below:

1. Stakeholders Relationship. Committee SI. No. Name

1. Dr. Amariit Chopra

1. Mr. Vined Kumar Nagar
2. Mr. Samarth Kapur

2. Corporate Social Responsibility Committee

SI. No. Name	'
1.	Mr. Rajeev Kapoor

1. Dr. Ashok Seth
2. Mr. Vined Kumar Naqar
3. Mr. Samarth Kapur

3. Risk Management Committee

SI. No.	Name
1.	Mr. Raieev Kapoor
2.	Mr. Kanwal Monga
3.	Dr. Amariit Chopra
4.	Mr. Arvind Kapur
5.	Mr. Kaushalendra Verma
6.	Mr. Raiiv Kumar Miqlani

Desiqnation in the Committee

• Chairman
  Member Member

Designation in the Committee

Chairman

Member

Member

Member

Desiqnation in the Committee

Chairman

Member

Member

Member

Member

Member

The requisite disclosure as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is enclosed herewith as Annexure A

The Board Meeting commenced at 4.45 PM and concluded at 5.00 PM.

Thanking you,

Yours faithfully,

for Rico Auto Industries Limited

�lr.'jiW>

8.M.Jha,� Company Secretary FCS: 2446

Encl : As above

• Rlf:OAUTOIII

REGO. & CORP. OFFICE: 38 KM STONE, DELHI-JAIPUR HIGHWAY, GURUGRAM-122001, HARYANA (INDIA)

EMAIL: [e-mail] WEBSITE: www.ricoauto.in TEL. : [phone] FAX: [phone]

CIN: L34300HR1983PLC023187

Annexure A

Details required under Regulation 30 of SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated

September 9, 2015

Name

Mr. Kaushalendra

Mr. Rajiv Kumar

Mr. Samarth

Mr. Hemal Bharat

Verma

Miglani

Kapur:

Khandwala

Reason for

Appointment of

Appointment of

Appointment of

Appointment of

change

Whole-time Director

Whole-time Director

Whole-time Director

Independent Director

Date of

26th August' 22

26th August' 22

26th Au�ust' 22

26th August' 22

Appointment

3 years

and

3 years

3 years

5 years

Terms of

Apointment

Brief Profile

Enclosed as

Enclosed as

Enclosed as

Enclosed as

Annexure B

Annexure C

Annexure D

Annexure E

Disclosure of

None

None

Son of Mr. Arun Kapur

None

relationship

and Nephew of

between

Mr. Arvind Kapur

Directors

Others

He is not debarred from

He is not debarred from He is not debarred from He is not debarred from

holding the office of

holding the office of

holding the office of

holding the office of

Director by virtue of any

Director by virtue of any

Director by virtue of

Director by virtue of any

SEBI Order or any other

SEBI· Order or any

any SEBI Order or any

SEBI Order or any other

such authority.

other such authority.

other such authority.

such authority.

I

REGO. & COR P. OFFI CE: 38 KM STONE , DELHI-JAI PUR HIG HWAY , GURUGRAM -122001, HARYANA (INDIA)

EMAIL: [e-mail] WEBSITE: www.ricoauto.in TEL.: [phone] FAX: [phone]

CIN: L34300HR1983PLC 023187

Annexure B

Brief Profile of Mr. Kaushalendra Verma (KV)

Mr. Kaushalendra Verma has more than 30 years of experience, in Profit Centre Management, Business Development, Technology Transfers, Greenfield Projects, Program Management, Manufacturing Engineering, Manufacturing and Quality Assurance. He possesses strong leadership skills in planning, organizing, systematic analysis, people management, and team building. He can lead and motivate a large team of people, streamlining workflow and creating an environment for teamwork to enhance Productivity. He is associated with Rico Group for last 14 years. He is currently serving as Managing Director of Rico Fluidtronics Limited.

Mr. Verma is well versed in the concept of Lean manufacturing and has implemented its tools to improve operational efficiencies, decrease capital investment and maximize the· enterprise's profitability. He has good knowledge of procurement processes - sourcing of capital machinery ;;:ind equipment, raw materials, and components from local and overseas suppliers as well as policies and procedures related to foreign trade.

He spent 21 years (March 1997 to June 2019) as Country Head/Managing Director with Delphi Automotive Systems, Magna Powertrain Inc. and Magna Rico Powertrain Pvt. Ltd. leading a P & L role for a region, responsible for business strategy for entry and growth in the region. From September 1994 to March 1997 he was associated Northwest Switch Gears Limited and Minda HUF Limited. He started his carrier by joining DLF Industries Ltd. as GET in March 1991 and served in various capacities till 1993.

He currently serves as a Director on the Boards of Rico Jinfei Wheels Limited, Rico Friction Technologies Limited and Rico Care Foundation and managing multi location plants.

He completed B.E. in Industrial Eng_ineeringfrom Nagpur University in 1991. He has been part of multiple Senior Executive Programs -

• Senior Executive Program of two-week leadership enhancement program at Hong Kong from Ross School of Business, University of Michigan;
• Lean Manufacturing Workshop a two-week workshop at La Rochelle, France on implementing lean to meet business objectives, and developing solutions tha't improve operational efficiencies; and
• Manufacturing Academy - Two Week workshop at Shanghai, China on understanding of Kaz Nakada manufac�uring tools for lean implementation.

REGO. & COR P. OFFICE: 38 KM STONE , DEL HI-JAI PUR HIG HWAY, GURUGRAM -122001, HARYANA (INDIA)

EMAIL: [e-mail] WEBSITE: www.ricoauto.in TEL.: [phone] FAX: [phone]

GIN: L 34300HR19 83PLC 023187

Annexure C

Brief Profile of Mr. Raiiv Kumar Miglani

Mr. Rajiv Kumar Miglani has exposure of more than 38 years in Industrial and Administrative experience in the Automotive and Engineering Industry and is well versed in all aspects of general administration and is currently serving as Managing Director of Rico Aluminium and Ferrous Auto Components Limited since August 2019.

Mr. Miglani is associated with RICO group for last 23 years and is heading Iron Foundry, Aluminium Die Casting and Machining operations in multi location plants. He has played key role in development of automation and special purpose machines.

He had worked with two car manufacturers Maruti Udyog Limited and Daewoo Motors India Limited for 15 years (1995 to 1999) in manufacturing before moving to his current assignment. He got trained in Japan and Korea in shop floor operations.

He worked with New Allenbury Works as Industrial Engineer in 1983. He spent 10 years (1985 to 1995) as Executive Machine shop (Cam shaft, Crank shaft, and Transmission case line). In 1999 he left Daewoo Motors India Limited as Head Machine Shop and initiated his career with Rico Auto Industries Limited and is serving as Sr. Vice President.

He completed Diploma in Mechanical Engineering (1980 to 1983). He has been part of workshops & certifications from Japan, Korea and India on machining line, balancing operations in Nagahama and Toyoda Grinding Works, Tig Welding on Cam Lobes, Leadership Management Course and Finance for Non-Finance Executives.

He currently serves as a Director on the Boards of AAN Engineering Industries Limited and Magpie Manufacturing and T�ch Private Limited.