Electrotherm (India) Ltd — Board/Management Information 2020

Jan 28, 2020

E""'L' C"TRUTHER 111 (INDIAI LTDJ 7

Ref. No.: El L/SD/Regl.-30/2019-2020/281 Date : 281h January, 2020

To,

General Manager (Listing) BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400 001 COMPANY CODE: 526608

To,

Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Bandra - Kuria Complex, Bandra (East), Mumbai-400 051 COMPANY CODE: ELECTHERM

Dear Sir/Madam,

Subject: Outcome of Board Meeting

This is to inform you that the Board of Directors ("Board") of the Company at their meeting held on Tuesday, 28th January, 2020 inter alia:

• 1. The Board has not approved the re-appointment of Mr. Mukesh Bhandari (DIN: 00014511)as Chairman of the Company. The current terms of appointment of Mr. Mukesh Bhandari as Chairman will be expire on 31 1tJanuary, 2020. As such he will ceased to be.a Chairman of the Company with effect from 1st February, 2020 and he will be continue as a Director.
• 1. The Board has approved the re-appointment of Mr. Shailesh Bhandari (DIN: 00058866) as Managing Director of the Company for a period of three years with effect from 1 1tFebruary, 2020 and concluding on 31St January, 2023, subject to the approval of members in general meeting and other approvals, as may be required. The brief profile of Mr. Shailesh Bhandari is attached as "Annexure-1".
• 1. Mr. Pawan Gaur, Chief Financial Officer (CFO) of the Company, has tendered his resignation from the post of CFO due to unavoidable circumstances, which has been considered and accepted by the Board of Directors with effect from 28th January, 2020}

The stock exchanges are hereby informed that the re-appointment of Mr. Shailesh Bhandari is subject to outcome of the Interlocutory Application filed in Company Petition No. 38/241- 242/NCLT/AHM/2019 under section 241 & 242 of the Companies Act, 2013.

ELECTROTHERM (India) Limited

HEAD OFFICE & WORKS:

Survey No. 72, Palodia, (Via Thaltej, Ahmedabad), Gujarat-382115, India. Phone: +91-2717-234553 —7, 660550 Fax: +91-2717-234866 Email: ho@electrotherm.com Website: www.electrotherm.com

REGD. OFFICE: A-i, Skylark Apartment, Satellite Road, Satellite, Ahmedabad-380015. Phone: +91-79-26768844, Fax: +91-79-26768855 CIN : L29249GJ1986PLCO09126 Email: sec@electrotherm.com

• Other Offices: Angul Banglore Bangladesh Bellary Chennai Coimbatore. Delhi. Ghaziabad Goa Hyderabad. Jaipur Jalna
  • Jalandhar Jamnagar Jamshedpur Kanpur Koderma Koihapur Kolkata Ludhiana Mandi Gobindgarh Mumbai
    • Nagpur Nasik Panaji Pune Raipur Raigarh Rajkot Rourkela Sambalpur

# 'L ® TRDTHERITI®HNDIAILTD

You are requested to take the same on your record.

Thanking you,

Yours faithfully,

Managing Director (DIN: 00058866)

End: As above

ELECTROTHERM (India) Limited

A-I, Skylark Apartment, Satellite Road, HEAD OFFICE & WORKS: Satellite, Ahmedabad-38001 5. Survey No. 72, Palodia, (Via Thaltej), Ahmedabad), Gujarat-382115, India. Phone: +91-79-26768844, Fax: +91-79-26768855 Phone: +91-2717-234553 —7, 660550 Fax: +91-2717-234866 CIN : L29249GJ1986PLC009126 Email: ho@electrotherm.com I Website: www.electrotherm.com Email: seccelectrotherm.com

Other Offices: • Angul • Banglore • Bangladesh • Bellary • Chennai • Coimbatore • Delhi • Ghaziabad • Goa • Hyderabad • Jaipur • Jalna , • Jalandhar • Jamnagar • Jamshedpur • Kanpur • Koderma • Kolhapur • Kolkata • Ludhiana • Mandi Gobindgarh • Mumbai

• Nagpur • Nasik • Panaji • Pune • Raipur • Raigarh • Rajkot • Rourkela • Sambalpur

ELECTRUTHERM, (IN DI LTD

Annexure —1: Brief Profile of Mr. Shailesh Bhandari (DIN: 00058866)

Sr.	Requirement	Particulars
No.
1.	Reason for change	Re-appointment of Mr. Shailesh Bhandari (DIN: 00058866) as Managing
	(i.e. appointment,	Director of the Company for a period of 3 years with effect from 1st
	resignation, removal,	February, 2020.
	death or otherwise)
2.	Date of Appointment /	The tenure of the re-appointment will be for .a period of 3 years with effect
	cessation (as	from 11t February, 2020 and concluding on 31st January, 2023, which is
	applicable) and terms	subject to approval of members in general meeting and other approvals, as
	of appointment	may be required.
3.	Brief Profile	Mr. Shailesh Bhandari aged about 61 years, is B. Sc. (Economics). He is
		associated with the Company since its inception as its Director and he has
		contributed immensely to the growth of the business of the Company. His
		areas of responsibility are marketing and international business. He has
		developed a strong bond with national and international customers and
		tohighestcustomer'sgivesprioritysatisfaction.hasimmenselyHe
		contributed in designing and developing metallurgical equipment as importsubstitute.
		theclosely supervisesHemarketing,banking& financialactivitiesgovernmentandrelationships
		theofCompany.wasHeinstrumental in revival of operations of the Company after the Company has
		incurred heavy losses since 2012. During these difficult times, he has
		initiated various cost effective measures by building relationship with
		suppliers for longer credit period,effective working capitalutilization,
		advance from customers, control of manpower cost by effective utilization
		etc. Thereafter, there was turnaround of operations and the financial results
		have been improved substantially.
		Due to his business acumen and foresight, the Company was able to arrive
		at settlement at appropriate time with various lenders at sustainable level.
		The Company has entered into settlement terms with 17 out of 19 lenders /ARC / financial institution including full repayment of settlement amounts to
		5 banks / financial institutions. Currently, the Company is able to make the
		repayment as per the settlement terms without any default and is hopeful
		to arrive at settlement with remaining two lenders also. He has maintained
		cordial relationship with all the lenders, asset reconstruction companies,
		financial institutions and all the stakeholders for long term sustainability.
		Mr. Shailesh Bhandari has led the marketing initiatives at Electrotherm over
		the.last more than 33 years. He has been primarily responsible for building
		and sustaining a very strong and large customer base for various products of
	M (-	,he Company. Due to his persistent approach towards brand identity, the
		Company was successful to penetrate the products of the Company atnationalinternationaland
		includinglevelrecognitionwithvariousgovernment organizations.

ELECTR0161 (India) Limited . REGD. ment Satellite Road, HEAD OFFICE & WORKS: . Satellite, Ahmedabad-38001 5. Survey No. 72, Palodia, (Via Thaltej), Ahmedabad), Gujarat-3821 15, India. Phone: +91-79-26768844, Fax: +91-79-26768855 Phone: +91-2717-234553 — 7, 660550 Fax: +91-2717-234866 CIN : L29249GJ1 986PLC0091 26

Email: ho@electrotherm.com I Website: www.electrotherm.com Email: sec@eIectrotherrn.com

"LA! A: ,

Other Offices: • Angul • Banglore • Bangladesh • Bellary • Chennai • Coimbatore • Delhi • Ghaziabad • Goa • Hyderabad • Jaipur • Jalna • Jalandhar • Jamnagar • Jamshedpur • Kanpur • Koderma • Kolhapur • Kolkata • Ludhiana • Mandi Gobindgarh • Mumbai

• Nagpur • Nasik • Panaji • Pune • Raipur • Raigarh • Rajkot • Rourkela • Sambalpur

ELECTFII.D1. I'1.EFit.ffW(INDIAI LTD. V

1. Disclosure of Mr. Shailesh Bhandari is Promoter of the Company and is brother of Mr. relationships between Mukesh Bhandari, Chairman and father of Mr. Suraj Bhandari, whole-time directors. Director of the Comp any. M

ELECTROTHERM (India) Limited REGD. OFFICE:

HEAD OFFICE & WORKS: A-I, Skylark Apartment, Satellite Road, Satellite, Ahmedabad-380015. Survey No. 72, Palodia, (Via Thaltej), Ahmedabad), Gujarat-382115, India. Phone: +91-79-26768844, Fax: +91-79-26768855 Phone: +91-2717-234553-7, 660550 Fax: +91-2717-234866 CIN: L29249GJ1 986PLC0091 26 Email: ho@electrothemi.com I Website: www.electrotherm.com Email: sec©electrotherm.com

Other Offices: • Angul • Banglore • Bangladesh • Bellary • Chennai • Coimbatore • Delhi • Ghaziabad • Goa • Hyderabad • Jaipur • Jalna • Jalandhar • Jamnagar • Jamshedpur • Kanpur • Koderma • Kolhapur • Kolkata • Ludhiana • Mandi Gobindgarh • Mumbai • Nagpur • Nasik • Panaji • Pune • Raipur • Raigarh • Rajkot • Rourkela • Sambalpur