The board of Visagar Financial Services Limited at its meeting held on April 16, 2019 approved the appointment of Mr. Sagar Tilokchand Kothari as the Chief Executive Officer of the Company with immediate effect. The company appointed of Mr. Sanjay Rajak as an Additional Director of the company to hold office as an Independent Director of the company for the period of 5 years with immediate effect subject To Approve the Company at the forthcoming Annual General Meeting. The company announced the change in the Designation of Mr. Kailash Chhaparwal from Independent Director to Non- Executive Director with immediate effect.

And the company accepted the resignation tendered by the following directors with immediate effect: Mr. Arvind Desai from the position of Whole time Director of the company; Mr. Suranjan Upadhyay from the position of Independent Director of the company.