Asahi Industries Limited announced that in accordance with the resolution plan approved by the National Company Law Tribunal, Mumbai Bench, (approved Resolution Plan), the Monitoring Committee at its Meeting held on July 21, 2022 inter- alia reconstituted the Board of Directors of the Company. With reconstitution of the Board, Monitoring Committee stands dissolved. Kindly note that consequent to the reconstitution of the Board of Directors of the Company and dissolution of the Monitoring Committee as stated above, further decisions/approval related to Asahi Industries Limited will be taken by the new Board of Directors.

Details of the Board of Directors/KMP of the Company: Ms. Manasi Indrajit Wadkar, Mr. Pushpendra Kumar Pandey and Mr. Manojkumar Sharma deemed resignation pursuant to the approval of Resolution plan by National Company Law Tribunal. Date of change is 25 July, 2022. Appointment of Mr. Girdhari Lal Soni as Additional Executive Director, Mr. Pradeep Kumar Gupta and Mr. Santosh Kumar Choursiya as Additional Independent Director and Mr. Abhimanyu Kumar Mishra as Additional Non-Executive Director.

Date of Change is 25 July, 2022. Mr. Girdhari Lal Soni is also a Directors at Safex Realtors Private Limited. The Company is engaged in Real estate business.

Mr. Soni has excellent knowledge and expertise in both Realty and Textile Business. He holds the huge expertise in Textile Industries of around 10+ years. Mr. Pradeep Kumar Gupta is well experienced personality in the Textile Industry with a medium term experience of approximately 4 years, He has worked wholly in textile market and has got efficient detailed understanding of these Industry.

He is not in any manner related to the Company or its Stakeholder and is eligible to get appointed as the Independent Director of the Company. Mr. Santosh Kumar Choursiya have experienced with successful company operations by implementing business strategies and fostering business relationships include maintaining frequent communications with company Executives and Board Members, reviewing operational data and financial statements to track the progress of business initiatives and hiring Department Directors to guide company employees in areas like accounting, sales, marketing or its Stakeholder and is eligible to get appointed as the Independent Director of the Company. Mr. Abhimanyu Kumar Mishra have Knowledgeable in legal with solid background maintaining litigation documentation, meeting with clients, and investigating court procedures.

Experienced working with third-party affiliates. Skilled in legal writing, labor statistics, and court processes. Ability to communicate effectively all the past accomplishments and skills of the legal secretary as well as the objective.