Asit C. Mehta Financial Services Limited informed that the Board of Directors of the Company based on the recommendation of the Nomination and Remuneration Committee vide circular resolution passed on December 26, 2022, approved the appointment of Mrs. Madhu Lunawat as an Additional Non-Executive Director & Mr. Ambareesh Baliga, Non-Executive Independent Director of the Company with effect from December 26, 2022 respectively. Madhu brings with her over two decades of rich experience spanning across investment management, corporate finance, asset reconstruction, M&A, due diligence and treasury operations. Madhu has co-founded Pantomath Group, CorpGini Innovations Pvt.

Ltd. & Lunawat Ventures. All of these organizations are active in investment & fund management, Private equity, M&A, corporate advisory space. She holds Investment management experience of over 20 years.

Pantomath Group (Aug. 2014 till date Fund Management, Asset & Investment Management) as a founding member Madhu started advising various family offices for their investments. With her leadership, Pantomath has successfully listed more than 120 Companies, mobilized funds more than INR 30,840 million in various instruments.

Madhu started India's only Listed SME Fund, Pantomath Sabrimala AIF registered Category I Fund, which clocked superior returns. Edelweiss Financial Services Ltd. As Youngest CFO her stint at Edelweiss started as Senior Manager and she went up to the ranks becoming Youngest CFO at Edelweiss ARC. Her responsibilities include treasury operations, investment management, corporate finance, strategic planning & management.

ASREC India Ltd. (April 2009 - July 2011 Treasury Management) she lead the treasury operations along with corporate finance function, financial due diligence, tax operations. Infosys Ltd. (April 2007 - March 2009) she began her career as lead in European Securitization Process Madhu is a rank holder Chartered Accountants and holds Bachelor's degree in Commerce along with CFA Level II (AIMR USA). Mr. Ambareesh Baliga, is experienced in different facets of the market for over last 35 years.

Mr. Ambareesh has been acknowledged for his acumen and understanding of the stock markets. Mr. Ambareesh, a Cost Accountant, began his financial career with Price Waterhouse, Kolkata. Since then he has worked with reputed firms and like the Kotak, Karvy, WaY2Wealth Edelweiss and has headed businesses in segments such as Wealth Management, Fund Management, Corporate Advisory, Investment Banking, Retail Finance and stock Broking.

Mr. Ambareesh has been an influential voice regarding Stock Markets and his opinions are carried by Leadlng magazines and newspapers including international publications. He is a regular author tor articles in Outlook Business and Business standard. He has been a regular guest on channels like CNBC, CNBC Awaaz, NDTV and Zee Business.