Thakral Corporation Limited announced that the appointment of Mr. Inderbethal Singh Thakral as CEO of the group had been approved by nomination committee, with Mr. Kartar Singh Thakral abstaining, to lead the investment division following the sudden demise of Mr. Jaginder Singh Pasricha, who held the position of managing director of the division. The Nomination Committee after reviewing Mr. Bethal's experience, involvement and familiarity in all aspects of the Group's businesses, had recommended to the Board his appointment as the Group's CEO. The Board accepted the recommendation of the Nomination Committee and approved the appointment of Mr. Bethal as the Group's CEO.

Mr. Bethal will continue to be responsible for the group's Lifestyle Business as well as the group's investment division. His additional responsibilities include heading the investment division, which will continue to concentrate on identifying new opportunitites for real estate investments in Australia and Japan, and oversee the joint-venture recently formed to develop resort-style retirement villages for the elderly in Australia as well as build facilities that will provide residential, in-care community services for the elderly. From December 2008 to till date, he is the managing director of Lifestyle Business of the Company.

Date of appointment is on January 2, 2016.