The board of directors of Suumaya Corporation Limited at its meeting held on November 6, 2023, approved appointment of Mr. Ishtiaq Ali (DIN: 02965131) as Additional Non-Executive Independent Director of the Company w.e.f. November 06, 2023. Appointment will take effect from November 06, 2023 First consecutive term of 5 (five) years subject to the approval of the members at the ensuing general meeting or at the general meeting to be held within the time period of three months from the date of appointment whichever is earlier. Mr. Ishtiaq Ali is the founding Partner of Orbit Law Services.

His core areas of practice are Banking and Project Finance, Sharia Compliant Transactions, Project Advisory, Asset Restructuring, Bonds and Capital Markets. He has more than three decades of extensive experience both as an in-house counsel working for Industrial Finance Corporation of India Limited (IFCI) and as a project finance and transaction lawyer in private practice. He has been appointed as an International Project Finance Expert as a part of Deloitte consortium team and has advised the PPP Centre of Philippines (Central Government Body) for privatization of airports and hospital projects.

Widely known for his expertise in infrastructure and project finance area, he is a frequent guest speaker on these subjects, nationally and internationally. He is a member of Bar Council of Maharashtra & Goa and International Bar Association.