INDOSOLAR LIMITED — Board/Management Information 2022

Nov 15, 2022

==> picture [220 x 47] intentionally omitted <==

November 15, 2022

The General Manager, Corporate Relationship Department, Bombay Stock Exchange Ltd. 25th Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001 SCRIPT CODE: 533257 ISIN: INE866K01015

Manager - Listing Compliance National Stock Exchange of India Limited Exchange Plaza’. C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 Company Symbol: INDOSOLAR

Sub.: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Madam/Sir,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of Company at its meeting held on November 14, 2022 has considered and approved the following matters:

1. Appointment of Mr. Hitesh Chimanlal Doshi as Managing Director. (Brief profile is annexed herewith)

2. Sale of the assets of the Companies which has become obsolete.

3. Setting up of 1 GW solar module manufacturing facility.

4. Resignation of existing statutory auditors M/s A.K.G. & Associates, Chartered Accountants due to pre – occupation and other engagements (Brief profile and Information obtained from Statutory Auditors upon resignation is annexed herewith).

5. Appointment of M/s. S G C O & CO. LLP, as Statutory Auditors of the Company. (Brief profile is annexed herewith)

Please take the same on your records and suitably disseminate to all the concerned.

Thanking you,

For Indosolar Limited

Digitally signed by AKALPITA HARNISH PATEL AKALPITA DN: c=IN, o=Personal, pseudonym=133113226773157944hAJ6Bz6oOk6 off, 2.5.4.20=b75382a8d8257731cc330e2174a25f07c1 HARNISH 00395dceac7df0c0173c6c80f3da65, postalCode=421201, st=Maharashtra, serialNumber=5ca75d7921690c61bcb05046ad28 0131746e586e580d30374ff0b0d87fc3b044, cn=AKALPITA HARNISH PATEL PATEL Date: 2022.11.15 18:08:48 +05'30'

Akalpita Patel Company Secretary and Compliance Officer Membership No. ACS40528 Email id: akalpitapatel@waaree.com Encl.: As above

INDOSOLAR LIMITED

Registered Office :- C-12, Friends Colony (East), New Delhi – 110065, India

Factory – 3C / 1eco Tech -11 , Udyog Vihar, Greater Noida – 201306, Uttar Pradesh, India

TEL - +91 -120 – 4762500 / FAX +91-120-4762525

CIN: L18101DL2005PLC134879

==> picture [220 x 47] intentionally omitted <==

Change in directors, key managerial personnel (Managing Director, Chief Executive Officer, Chief Financial Officer, Company Secretary etc.), Auditor and Compliance Officer of the Company under Regulation 30 of the SEBI (LODR) Regulations, 2015.

1. Appointment of Mr. Hitesh Chimanlal Doshi as Managing Director w.e.f November 14, 2022

A	**Name of Director **	Mr. Hitesh Chimanlal Doshi
B	Reasonofchangevizappointment, removal, death orotherwise	Appointment
C	Date and term of appointment	Date of Appointment :- November 14, 2022Term of Appointment: - NAMr. Hitesh Chimanlal Doshi is appointed as Managing Director of theCompanyw.e.f November 14,2022.
D	Brief profile	Mr. Hitesh Chimanlal Doshi holds a bachelor’s degree in commercefrom the University of Mumbai. He also holds a doctorate inprofessional entrepreneurship in business project management fromthe European Continental University.He is currently Chairman and Managing Director of Waaree EnergiesLimited, holding company of Indosolar Limited. He is associated withWaaree Group since 1999 and is currently responsible for, inter alia,overseeing our Company’s financial performance, investments andother business ventures, providing strategic advice to the Board,developing and executing Group’s business also involved in developingstrategies and establishing policies and legal guidelines.
E	Disclosureofrelationshipbetween Directors	Mr. Hitesh Chimanlal Doshi is elder brother of Mr. Viren ChimanlalDoshi,who is non-executive director of the Company.

1. Resignation of Mr. A.K.G & Associates as statutory auditors w.e.f November 14, 2022

A	**Name of Auditor **	M/s A.K.G. & Associates
B	Reasonofchangevizappointment, removal, death orotherwise	Resignation as statutory auditors of the company due to pre-occupationand other engagements.
C	Date and term of appointment	Date of Resignation :- November 14, 2022Term of Appointment: - NA
D	Brief profile	Not Applicable
E	Disclosureofrelationshipbetween Directors	Not Applicable

INDOSOLAR LIMITED

Registered Office :- C-12, Friends Colony (East), New Delhi – 110065, India

Factory – 3C / 1eco Tech -11 , Udyog Vihar, Greater Noida – 201306, Uttar Pradesh, India

TEL - +91 -120 – 4762500 / FAX +91-120-4762525

CIN: L18101DL2005PLC134879

==> picture [220 x 47] intentionally omitted <==

3. Appointment of M/s S. G. C. O. & CO. LLP as statutory auditors of the Company

A	**Name of Auditor **	M/s S. G. C. O. & CO. LLP
B	Reasonofchangevizappointment, removal, death orotherwise	Appointment as statutory auditors, to fill Casual Vacancy occurred dueto the resignation of existing statutory auditors M/s A.K.G & Associates
C	Date and term of appointment	Date of Appointment :- November 14, 2022Term of Appointment: To fill the causal vacancy up to the AnnualGeneral Meeting (“AGM”) to be held in year 2022 and thereafter for theterm of five (5) years from the conclusion of AGM to be held in the year2022 upto the conclusion of AGM to be held in theyear 2027.
D	Brief profile	S. G. C. O. & CO. LLP is a Multi-Disciplinary Accountancy firm, inexistence for more than two decades is catering to over 250 plus clientgroups across diverse sectors. They are presently ranking among the top100 firms in India. They are well equipped with a highly skilled, well-trained and strongly motivated team of including experienced/ qualifiedprofessionals, optimize skill-sets, operate with facility of completelyautomated environment and infrastructure.
E	Disclosureofrelationshipbetween Directors	Not Applicable

INDOSOLAR LIMITED

Registered Office :- C-12, Friends Colony (East), New Delhi – 110065, India TEL - +91 -120 – 4762500 / FAX +91-120-4762525

Factory – 3C / 1eco Tech -11 , Udyog Vihar, Greater Noida – 201306, Uttar Pradesh, India

CIN: L18101DL2005PLC134879

A.K.G. & ASSOCIATES

==> picture [79 x 45] intentionally omitted <==

C h a r t e r e d A c c o u n t a n t s

Annexure A

	Annexure A
1.	Name of the listed entity/ material subsidiary	Indosolar Limited
2	Details of the statutory auditor
a.	Name	A.K.G. & AssociatesChartered AccountantsFirm Registration No. 002688N
b.	Address	11 CSC, DDA Market – A Block,Saraswati Vihar, Delhi 110034
c.	Phone no.	9810046631
d.	Email	audit@akgandassociates.com
3	Details of association with the listed entity/ materialsubsidiary
a.	Date on which the statutory auditor was appointed	28.09.2020
b.	Date on which the term of the statutory auditor wasscheduled to expire	(5 Years) Upto 19ThAGM to beheld in 2024
c.	Prior to resignation, the latest audit report/limited reviewreport submitted by the auditor and date of its submission.	-Quarter ended on June30, 2022-Quarter and half yearended on September 30,2022Dated–14.11.2022
4.	Detailed reasons for resignation.	Preoccupationandotherengagements
5.	In case of any concerns, efforts made by the auditor prior toresignation(includingapproachingtheAuditCommittee/Board of Directors along with the date ofcommunication made to the Audit Committee/Board ofDirectors)	No concerns found.
6.	In case the information requested by the auditor was notprovided, then following shall be disclosed:	All the necessary information wasprovided.
a.	Whether the inability to obtain sufficient appropriate auditevidence was due to a management imposed limitation orcircumstances beyond the control of the management	NA
b.	Whether the lack of information would have significantimpact on the financial statement / results	NA
c.	Whether the auditor has performed alternative proceduresto obtain appropriate evidence for the purposes ofaudit/limited review as laid down in SA 705 (Revised)	NA
d.	Whether the lack of information was prevalent in theprevious reported financial	NA
7.	Any other facts relevant to the resignation	Nil

11-CSC, DDA Market, A-Block, Saraswati Vihar, Delhi-110034

E-mail: audit@akgandassociates.com www.akgandassociates.com 1800-309-9986 Delhi, Mumbai, Bengaluru, Jaipur and Karnal

Declaration

1. We hereby confirm that the information given in this letter and its attachments is correct & complete.

2. We hereby confirm that there is no other material reason other than those provided above for my resignation/ resignation of my firm.

For A.K.G. & Associates Chartered Accountants

HARVIN Digitally signed by HARVINDER DER SINGH Date: 2022.11.14 SINGH 21:20:36 +05'30' ___________________________ CA Harvinder Singh Partner November14, 2022 Place: - Delhi