1. Chandra Prakash Kothari, the Managing Director of the Company ceased to be the Managing Director of the Company consequent upon his resignation however he shall continue to be a Director on the Board of Directors of the Company. The Board of Directors accepted the resignation of Chandra Prakash Kothari, as Managing Director and designated him as 'Chairman' of the Company.

2. Change in designation of Dharam Prakash Kothari from his current designation as Whole Time Director to Managing Director of the Company along with terms of his appointment, subject to the approval of the Shareholders in the Annual General Meeting.

3. Appointment of Sunil Kothari as an additional director as well as whole-time director on the Board of the Company subject to the approval of the shareholders in the Annual General Meeting.