Newever Trade Wings Limited announced that the board of directors of the company at its meeting held on January 17, 2017, have considered and approved the resignation of Mr. Akash Kumar (DIN 06550023) from the post of managing director of the company and appointment of Mr. Debjit Banerjee (DIN 06636323), as an additional executive director to hold office up to the date of upcoming general meeting. Further Mr. Debjit Banerjee will be regularize as Managing Director in terms of provisions of Sections 196, 197 & 203 read with Schedule V and other applicable provisions, if any, of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, subject to the approval of Shareholders at the General Meeting.