The Board of Directors of the Cospower Engineering Limited at the board meeting held on January 14, 2022, approved the resignation of Mr. Anil Vasudev Kamath as the Non- Executive Independent Director of The Company due to his personal commitments. Mr. Anil Kamath has confirmed to the Company that there are no material reasons for his resignation other than those mentioned above. The Board placed on record their appreciation of the valuable services and guidance rendered by Mr. Anil Vasudev Kamath as the Independent Director of the Company.

Also approved the appointment of Mr. Ashley Mathew Correa as an Additional, Non-Executive and Independent director of the company with effect from January 14, 2022 for a period of five years subject To Approve the shareholders at ensuing General Meeting.