Persistent Systems Limited — Board/Management Information 2023

Jun 6, 2023

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NSE & BSE / 2023-24 / 46

June 6, 2023

The Manager Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400 051

Ref: Symbol: PERSISTENT

The Manager Corporate Services, BSE Limited 14[th] Floor, P J Towers, Dalal Street, Mumbai 400 001

Ref: Scrip Code: 533179

Dear Sir / Madam,

Sub: Intimation of the appointment of Dr. Ajit Ranade (DIN: 00918651) as an Additional Director (Independent Member) with effect from June 6, 2023

In terms of Regulation 30 and any other applicable regulations, if any of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that basis of the recommendation of the Nomination and Remuneration Committee of the Board of Directors of the Company, the Board at its meeting held on June 6, 2023, has appointed Dr. Ajit Ranade DIN: 00918651) as an Additional Director (Independent Member) of the Company with immediate effect for a period of 5 years i.e. from June 6, 2023 to June 5, 2028, subject to approval by the Shareholders of the Company at its ensuing Annual General Meeting (‘AGM’).

The details required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, are enclosed as Annexure A for your records.

Please acknowledge the receipt.

Thanking you,

Yours sincerely,

For Persistent Systems Limited

Digitally signed by Amit Amit Murari Atre Murari Atre Date: 2023.06.06 22:21:04 +05'30'

Amit Atre Company Secretary ICSI Membership No.: A20507

Encl: As above

Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLCO56696

Tel: +91 (20) 670 30000 | Fax - +91 (20) 6703 0008 | E-mail - info@persistent.com | Website - www.persistent.com

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Annexure A

Disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015.

Sr.No.	Details of Events that needto be provided	Information of such events(s)
1.	Reason for change viz. appointment,resignation, removal, death, orotherwise	Appointment of Dr. Ajit Ranade (DIN: 00918651) as anAdditional Director (Independent Member) of theCompany.
2.	Date of appointment and term ofappointment	Date – June 6, 2023Term of appointment –Dr. Ajit Ranade has been appointed as an AdditionalDirector (Independent Member) of the Company withfor a period of 5 years i.e., from June 6, 2023, to June5, 2028, subject to approval by the Shareholders of theCompany at its ensuing Annual General Meeting(‘AGM’).
3.	Brief profile (in case of appointment ofa director)	Dr. Ranade is a noted economist. He received his PhDin Economics from the Brown University, USA.Before that, he did Post Graduate Diploma inManagement (PGDM) from the Indian Institute ofManagement, Ahmedabad, after completing B. Tech.in Electrical Engineering at the prestigious IndianInstitute of Technology, Bombay.Dr. Ranade is a Vice-Chancellor and a former memberof the Board of Management at the Gokhale Institute ofPolitics and Economics.BeforejoiningtheInstituteastheVice-Chancellor, he was the Group ExecutivePresident and Chief Economist with the Aditya BirlaGroup,aUS$50Bdiversifiedmultinationalconglomerate.His 32-year career has spanned both academic andcorporate assignments. He has taught in universities inIndia and the USA. He has served as a member ofseveral committees of the Reserve Bank of India andas a member of apex committees of national industrybodies such as the Confederation of Indian Industry(CII) and the Federation of Indian Chambers ofCommerce and Industry (FICCI). He was appointed asa member of the Economic Task Force for post-COVIDeconomicrecoverybytheChiefMinisterofMaharashtra, India.

Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLCO56696

Tel: +91 (20) 670 30000 | Fax - +91 (20) 6703 0008 | E-mail - info@persistent.com | Website - www.persistent.com

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----- Start of picture text ----- Sr. Details of Events that need Information of such events(s)No. to be providedDr. Ranade has many publications in reputed journalsand is one of the authors of the recent award-winningbook ‘Rising to the China Challenge’. He is also aregular columnist in leading financial newspapers andhas numerous columns on different areas of theeconomy.4. Disclosure of relationships between Dr. Ranade does not have any inter-se relationshipdirectors (in case of appointment of a with any other director.director)However, Dr. Ranade is the Director of MahrattaChamber of Commerce Industries and Agriculture(MCCIA) where: Dr. Anand Deshpande (Chairman and ManagingDirector of the Company) isthe Vice President and Director, and Mr. Arvind Goel (Independent Director of theCompany) is the DirectorFurther, Dr. Deshpande is the Nominee of theChancellor on the Board of Management of GokhaleInstitute of Politics and Economics, where Dr. Ranadeis a Vice-Chancellor.5. Information pursuant to BSE Circular Dr. Ranade is not debarred from holding the office of awith ref. no. LIST/COMP/14/2018-19 Director by virtue of any SEBI order or any other suchand NSE Circular NSE/CML/2018/24 authority as required under the circulars.(‘Circulars’)----- End of picture text -----

Persistent Systems Limited, Bhageerath, 402 Senapati Bapat Road, Pune 411 016, Maharashtra, India CIN - L72300PN1990PLCO56696

Tel: +91 (20) 670 30000 | Fax - +91 (20) 6703 0008 | E-mail - info@persistent.com | Website - www.persistent.com

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