Swastika Investmart Limited informed that Mr. Raman Lal Bhutda (DIN: 01789675) will complete his second and final term as an Independent Director pursuant to the provisions of Sub-Section 11 of Section 149 of the Companies Act, 2013 with effect from the close of business hours on 31st March, 2024 consequently he will retire from Independent Directorship as well as from all the Committees of Board of Directors of the Company. Cessation/retirement on completion of his second term as an Independent Director of the Company on close of business hours on March 31, 2024. Consequently, he also retires from the Chairperson and membership of various Committees of Board of Directors of the Company.

Appointment was made as an Independent Director for a first term of 5 years with effect from 01 April 2014 to 31 March 2019. Re-appointment was made as an Independent Director for second and final term of 5 years by way of special resolution with effect from 01 April 2019 to 31 March 2024.