Cerebra Integrated Technologies Limited informed that Mr. Uttam Prakash Agarwal, Independent Director (DIN: 00272983), Justice Madan Gosavi, Independent Director (DIN: 10303662), and Justice Satish Chandra, Independent Director (DIN: 10301960) of the Company have tendered their resignations from the Offices of Independent Director on 13th May, 2024. Further, as confirmed by Mr. Uttam Prakash Agarwal, Justice Madan Gosavi and Justice Satish Chandra that there are no other material reasons other than mentioned in their letters to resign before the expiry of the term as Independent Directors of the Company which is in pursuance of Regulation 30 read with Clause (7B) of Schedule III Part A of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Uttam Prakash Agarwal: Directorships & Committee Memberships in other listed entities: Zee Entertainment Enterprises Limited and 3I Infotech Limited.

After they were appointed as independent. Reason they provided in resignation letter: After they were appointed as Independent Directors of The Company, they soon became aware of the Adjudication Order by SEBI dated 12 October 2023, for investigation into Insider Trading of the stock of The Company. Additionally, The Company has also since received a demand notice from the GST and Income Tax authorities, and has not been keeping up with the good practices of Corporate Governance for which the board and Audit committee had directed to get a forensic audit, to find out lapses into the same.

Unfortunately, despite persistent follow-ups the management did not act upon the same.