Lakshmi Finance & Industrial Corporation Limited announced that Mr. M Ranganath Sai, one of the Directors of the company could not attend any of the board meetings held after February 01, 2016 till date, due to his ill health. As per Section 167 of the Companies Act, the Director shall vacate the office, if he does not attend any meeting for a continuous period of twelve months. In this regard, the company would like to bring to notice that Mr. M Ranganath Sai ceases to be Director of the company with effect from February 03, 2017(last meeting date).