Surat Textile Mills Limited at its board meeting held on June 30, 2022 approved the appointment of Mr. Alok P. Shah as an Additional Director of the Company with immediate effect. Further Mr. Alok P. Shah has been appointed in the capacity of Managing Director with effect from 1" July, 2022 for a period of three years. Mr. Alok P. Shah is being appointed as Additional Director with effect from 30th June, 2022.

Further, in accordance with the provisions of Section 149 and 161 of the Companies Act, 2013, Mr. Alok P. Shah shall hold office up to the date of next Annual General Meeting of the Company. Further Mr. Alok P. Shah has been appointed in the capacity of Managing Director with effect from 1" July, 2022 for a period of three years on the terms and conditions as recommended by the Nomination and Remuneration Committee Mr. Alok P. Shah is a graduate in Electrical Engineering from Stanford University and has an M.B.A. (Finance, General Management and Economics) from University of Chicago, USA. Shri Alok P. Shah has had a brilliant academic career.

He has wide exposure and knowledge in project appraisal, assessing technical feasibility in respect of projects, corporate finance, operations & management etc.