1. The Board of Directors of the Company, at its meeting held on 21 March 2016, has appointed Dr. Vinay Gopal Nayak as an Additional Director of the Company.

2. Dr. Balwant Shankarrao Desai has resigned as COO and Whole-time Director of the Company effective from 21 March 2016.

3. The Board of Directors of the Company, at its meeting held on 21 March 2016, has also appointed Dr. Vinay Gopal Nayak as a Whole-time Director (designated as Executive Director) of the Company for a period of three (3) years with effect from 21 March 2016.