Padam Cotton Yarns Limited announced that Mr. Jai Kumar Gupta, who was re-appointed as Independent Director of the Company for a period of five years commencing from September30, 2019 to September 29, 2024 has conveyed to the Board that due to personal reasons, he would be unable to continue as Director on the Board of the Company post completion of his term as Independent Director with effect from February 17,2021. Hence, Mr. Jai Kumar Gupta shall cease to be an Independent Director of the Company from February 17, 2021.