Embassy Developments: Announcement under Regulation 30 (LODR)-Change in Management

Pursuant to LODR Regulations we inform that the Board of the Company in their meeting held today have in its best business interest considered and approved the following reorganization:1. Appointment of Mr. Sachin Chittaranjan Shah (DIN: 00387166) who is presently the President of the Company as an Additional Director designated as Executive Director for a period of 5 years w.e.f. today i.e. 27/02/2023 in place of Mr. Mehul Johnson (DIN: 00016075) who has resigned as a Managing Director & KMP of the Company with effect from today due to his personal reasons & existing commitments. However to facilitate smooth transition of his erstwhile responsibilities as a Managing Director at the request of the Board he will continue as Non-Executive Non-Independent Director till 31/03/20232. Appointment of Mr. Shyamm Mariwala Mr. Javed Faizullah Tapia & Ms. Tarana Suresh Lalwani as an Additional (Independent Directors) on the Board for a period of 3 years wef. today i.e. 27/02/2023