Persistent Systems Limited — Board/Management Information 2023

Jun 6, 2023

==> picture [108 x 25] intentionally omitted <==

NSE & BSE / 2023-24 / 45

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: Outcome of the Board Meeting held on Tuesday, June 6, 2023

We wish to inform you that, the Board of Directors of Persistent Systems Limited (the ‘Company’), at its meeting held through Videoconferencing (VC)/ Other Audio-Visual Means (OAVM) on Tuesday, June 6, 2023, commenced at 1945 hrs (IST) has inter-alia taken the following decisions:

1. 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 on the 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’).

A Brief Profile of Dr. Ajit Ranade (DIN: 00918651) is enclosed as Annexure A for your records.

2. Approval of the Report of the Directors to the Members of the Company to be published in the Annual Report for the Financial Year 2022-23

The Board of Directors went through the Report of the Directors to the Members of the Company to be published in the Annual Report for the Financial Year 2022-23 and the other important parts of the Annual Report viz. Corporate Governance Report, Management Discussion and Analysis Report, Business Responsibility and Sustainability Report, and the rest of the contents; and approved the same.

3. Appointment of Secretarial Auditors of the Company for the Financial Year 2023-24

The Board of Directors approved the appointment of M/s. SVD and Associates, Practicing Company Secretaries, Pune as the Auditor for conducting the Secretarial Audit of the Company for the Financial Year 2023-24.

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

Page 1 of 4

==> picture [108 x 25] intentionally omitted <==

Please note that the discussion on the above agenda items was concluded at 2107 Hrs (IST).

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 22:19:55 +05'30' Amit Atre Company Secretary ICSI Membership No.: A20507

Encl: As above

==> picture [49 x 49] intentionally omitted <==

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

Page 2 of 4

==> picture [108 x 25] intentionally omitted <==

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.

September 9, 2015.	September 9, 2015.	September 9, 2015.	September 9, 2015.	September 9, 2015.
	Sr.N	Details of Events that needt b idd	Information of such events(s)
	o.	o e prove
	1	Reason for change viz appointment	Appointment of Dr Ajit Ranade (DIN: 00918651) as a	ne
	.	. ,resignation, removal, death, or	.Additional Director (Independent Member) of th
		otherwise	Company.
	2.	Date of appointment and term of	Date – June 6, 2023
		appointment	T f itt
			Director (Independent Member) of the Company witfor a period of 5 years i.e., from June 6, 2023, t22
			June 5, 08, subject to approval by the Shareholderof the Company at its ensuing Annual General Meetin
			(‘AGM’).
	3.	Brief profile (in case of appointment of	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.Dr. Ranade has many publications in reputed journalsand is one of the authors of the recent award-winning
		a director)	in Economics from the Brown University, USA.Before that, he did Post Graduate Diploma i
			Management (PGDM) from the Indian Institute o
			Management, Ahmedabad, after completing B. Tecin Electrical Enineerin at the restiious India
			gg pgInstitute of Technology Bombay.
			,
			Dr. Ranade is a Vice-Chancellor and a former membeof the Board of Manaement at the Gokhale Institute
			gPolitics and Economics.
			Vice-Chancellor, he was the Group ExecutivPresident and Chief Economist with the Aditya BirlGroupaUS$50Bdiversifiedmultination
			, conglomerate.
			His 32-ear career has sanned both academic an
			y pcorporate assignments. He has taught in universities i
			India and the USA. He has served as a member o
			several committees of the Reserve Bank of India an
			as a member of apex committees of national industr
			bodies such as the Confederation of Indian IndustrCII d th Fdti f Idi Chb
			economicrecoverybytheChiefMinisteroMaharashtra, India.
			Dr Ranade has man ublications in reuted journal
			. y p pand is one of the authors of the recent award-winnin

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

Page 3 of 4

==> picture [108 x 25] intentionally omitted <==

==> picture [472 x 332] intentionally omitted <==

----- Start of picture text ----- Sr. Details of Events that need Information of such events(s)No. to be providedbook ‘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

Page 4 of 4