Rico Auto Industries Limited inform that the Board of Directors have announced that Mr. Arun Kapur, Joint Managing Director (Promoter Director) has desired to discontinue as Director and consequently as Joint Managing Director of the Company with effect from close of business hours on 25th August' 22 to make place for his son, Mr. Samarth Kapur who has been appointed as Whole-time Director of the Company effective . 26th August' 22 to carry forward the vision of the Company. Mr. Arun Kapur has made major contribution to the success of the Company over the last 38 years right from its inception Mrs. Upasna Kapur, Promoter Director, who is retiring by rotation, has desired not to continue as Director, to make way for induction of Professional Directors, from the conclusion of the forthcoming Annual General Meeting.