Mahan Industries Limited informed that the Board of Directors of the Company at its meeting held on August 23, 2023, the Board of Directors of the Company has approved appointment of Mr. Suni Gurnani as an Additional Director designated as CFO & Executive Independent Director effective 23 August, 2023. Pursuant to Regulation 17(1C) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 appointment of Mr. Sunil Gurnani shall be approved by shareholders in the next general meeting or within a time period of three months from the date of appointment, whichever is earlier. Mr. Sunil Gurnani hold degree of Bachelor of Commerce and Master of Commerce.

He possess valuable experience of more than 15 years as Senior Manager in Axis Bank Limited. He has significant experience in administration and operations. The Board of Directors of the Company has approved appointment of Mr. Astik Trivedi as an Additional Director designated as Non-Executive Independent Director effective 23 August, 2023.

Pursuant to Regulation 17(1C) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 appointment of Mr. Astik Trivedi shall be approved by shareholders in the next general meeting or within a time period of three months from the date of appointment, whichever is earlier. Mr. Astik Trivedi hold degree of Master of Technology in Civil Engineering with specialization in Forensic Structural Engineering. He possess valuable experience of more than 3 years as Structural Engineer and Project Co-Ordinator at Mitsumi Housing Pvt.

Ltd. Mr. Chanakya Shukla has resigned from the position of Independent Director of the company with effect from 23rd day of August, 2023 due to pre-occupation with other work.