Ballarpur Industries Limited at the Monitoring Committee of the Company in its meeting held on June 12, 2023 appointment of Sri Hardik B. Patel as a Whole Time Director of Board of the Company. Appointment of Sri Parashiva Murthy B S as the Director (Non-Executive & Non-Independent) of the Company. Appointment of Sri Duraiswamy Gunaseela Rajan as the Independent Director (Non-Executive) of the Company.

Resignation of Sri Rajeev Ranjan Vederah as Non-Executive Independent Director of the Company with effect from the close of business hours on June 12, 2023. Resignation of Sri Padmakumar Nair as Non-Executive Independent Director of the Company with effect from the close of business hours on June 12, 2023. Resignation of Ms. Yashashree Padmakar Gurjar as Non-Executive Non-Independent Director of the Company with effect from the close of business hours on June 12, 2023.

The Members of the Monitoring Committee in accordance with the terms of the approved Resolution Plan, approved the appointment of Sri Hardik B. Patel as a Whole Time Director of the Company so as to reconstituted the Board of Directors ("BoD") of the Company. Sri Hardik B. Patel is appointed as Whole Time Director of the Company effective June 12, 2023. Sri Hardik B. Patel aged 41, has a Master's Degree in Business Administration from Crummer Graduate School of Business, Florida, USA.

He is the founder and Promoter of FINQUEST and has worked with pre-eminent investment banks and asset advisory firms such as Merrill Lynch, PCE Investment Bankers and Fidelity Investments in the USA. Sri Patel specializes in developing bespoke client specific solutions including creating prudent asset allocation techniques and building model portfolios. He is on the Board of Rubfila International Limited, Premier Tissues (India) Limited, Finquest Securities Private Limited, Finquest Financial Solutions Private Limited, Krihaan Texchem Private Limited, Digjam Limited and many family promoted companies.

Disclosure of relationships between Directors inter se Manager and KMPs: Sri Hardik B. Patel is person related to Finquest Financial Solutions Private Limited and hold common directorship in both the Companies, except above Sri Hardik B. Patel is not related to any Directors or Key Managerial Personnel of the Company. The Members of the Monitoring Committee in accordance with the terms of the approved Resolution Plan, approved the appointment of Sri Parashiva Murthy B S as a Director (Non-Executive & Non- Independent) of the Company so as to reconstituted the Board of Directors ("BoD") of the Company. Sri Parashiva Murthy B S as a Director (Non-Executive & Non-Independent) of the Company effective June 12, 2023.

Sri Parashiva Murthy B S aged 58, is an Engineering graduate and a professional cost accountant from Institute of Cost Accountants of India having more than 3 decades of Industry experience which includes working with IDBI Bank (formerly Industrial Development Bank of India), BPL Group and Kennametal Group. While working with IDBI for more than 23 years, Mr. Murthy has worked in various capacities with his last role as General Manager, heading the Stressed Asset Vertical of IDBI Bank. Mr. Murthy has been on board of many Corporates as Independent Director.

He has deep insight knowledge on credit appraisal process of a Bank and Financial institution. He is on the Board of Finquest Financial Solutions Private Limited as Non-Executive Non-Independent Director. Disclosure of relationships between Directors inter se Manager and KMPs: Sri Parashiva Murthy B S is presently acting as Non-Executive Director of Finquest Financial Solutions Private Limited, except above Sri Parashiva Murthy B S is not related to any Directors or Key Managerial Personnel of the Company.

The Members of the Monitoring Committee in accordance with the terms of the approved Resolution Plan, approved the appointment of Sri Duraiswamy Gunaseela Rajan as the Independent Director (Non-Executive) of the Company so as to reconstituted the Board of Directors ("BoD") of the Company. Sri Duraiswamy Gunaseela Rajan as theIndependent Director (Non-Executive) of the Company effective June 12, 2023. Sri D. G. Rajan aged 82 years, is a Fellow Member of the Institute of Chartered Accountants in England and Wales and the Institute of Chartered Accountants of India.

He is also an Associate Member of the Institute of Internal Auditors. Sri Rajan served as a Partner at Lovelock & Lewes from 1967 and was the Senior Partner (Chairman) of the firm from 1984 till 1990. He also served as the Chairman of the Direct Taxation Committee of the Southern India Chamber of Commerce & Industry and a Member of the Board of Governors of The Doon School, Dehradun.

Sri D.G. Rajan is on the Board of Rubfila International Limited, Balaji Telefilms Limited, Balaji Motion Pictures Limited, IFGL Refrectories Limited, Lotte India Corporation Limited, Havmor Ice Cream Private Limited, Digjam Limited, PBG Associates Limited and ALT Digital Media Entertainment Limited.