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 Chief Financial Officer (KMP) of the Company with effect from June 12, 2023. The successful resolution applicant has nominated to appoint Mr. Hardik B Patel as the Chief Financial Officer of the Company and the same was duly approved by the Monitoring Committee in terms of the approved resolution plan. 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 Whole-Time-Director of the Company.