Magnum Ltd. at its meeting held on September 29, 2012 approved appointment of Mr. Dilip Kumar Dutta, Mr. Santosh Kumar Awasthi and Mr. Madabushi Ramaswamy Rajagopal as additional Directors of the Company due to change of management. Resignation of Mr. Nagesh Bhandari, Mr. Shailesh Bhandari, Mr. Ram Singh and Mr. Dineshkumar Sharma from the post of Director of the company.