Banas Finance Limited announced that, at the Meeting of Board of Directors of the Company held on 10 November, 2022 and the Board of Directors approved the matters and agenda specified in the Notice of Meeting and inadvertently one of the agenda which was discussed in the Meeting which was related to the reconstitution of Composition of Nomination and Remuneration Committee Meeting. The Board of Directors took on records, the Reconstitution of Nomination and Remuneration Committee Meeting with effect from 01st October, 2022 pursuant to the approval received from the shareholders of the Company with effect from 29th September, 2022, Change in designation of Mrs. Tanu Agrawal from Non Executive Director to Executive Director. Ms. Tanu Agrawal has resigned from the post of Membership of Nomination and Remuneration Committee Meeting and Mr. Ashish Kachhara, Non Executive Independent Director of the Company has been appointed as Member of the Nomination AND Remuneration Committee with effect from 01 October, 2022.

Name of Committee members: TANU GIRIRAJ AGARWAL, CHIRAG GOYAL, VIKASH KULHRIYA, ASHISH KACHHARA, CHIRAG GOYAL, and VIKASH KULHRIYA respectively. Category: Non-Executive - Non Independent Director, Member; Non-Executive - Independent Director, Chairperson; Non-Executive - Independent Director, Member; Non-Executive - Independent Director, Member; Non-Executive - Independent Director, Chairperson; and Non-Executive - Independent Director, Member respectively. Date Of Appointment: October 13, 2016; December 31, 2020; December 31,2020; October 01, 2022; December 31, 2020; and December 31, 2020 respectively.