The board of directors of IEL Limited at its meeting held on July 8, 2024, considered that Mr. Ronit Champaklal Shah (DIN - 02851806) vide his Resignation Letter dated 08th July 2024 has resigned and retired from the office of Managing Director (Promoter) of the Company with effect from closing business hours of 08th July 2024 owing to his involvement and pre- occupation in social and other business commitments. Mr. Ronit Champaklal Shah (DIN - 02851806) will continue to hold the office of Director (Promoter) of the Company. He had confirmed that there are no other material reasons for the resignation other than those provided in his resignation letter.

Further, Mr. Ronit Champaklal Shah did not hold Directorship in any other listed entity other than the Company. The Board of Directors of the Company has taken the same on record and will complete necessary formalities in regards of his resignation and retirement from the post of Managing Director in due course of time.