Essar Securities Limited announced that Mr. Somashekhar B Malagi has expressed his intention to resign as Independent Director of the Company effective May 26, 2023 due to his personal reasons, as mentioned in his resignation letter dated May 26, 2023. Further, the Company has received confirmation from Mr. Somashekhar B Malagi that there are no material reasons for her resignation other than those, mentioned in the resignation letter dated May 26, 2023.