IG Petrochemicals Ltd. announced that Mr. Premjit Singh, Independent Director has resigned from the Directorship of the company with effect from October 30, 2012 due to old age and indifferent health. Mr. P H Ravikumar has joined the Board as an Independent Director with effect from October 30, 2012 in the casual vacancy caused by the resignation of Mr. Premjit Singh. Further, Mr. P H Ravikumar has a Bachelor's Degree in Commerce, a Certified Associate of London and Indian Institute of Bankers, Fellow of Securities Investments Institute, London and Senior Diploma in French.

He has 41 years of Financial Sector Professional experience in the Banking, Commodity Exchange and is presently the Managing Director of an Asset Securitisation and Reconstruction company.