PVP Ventures has informed that pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015 (Listing Regulation) the Board of Directors of the Company has approved the change in the designation of Subramanian Parameswaran (DIN:09138856) from Non-Executive Non-Independent Director to Non-executive Independent Director of the Company with effective from 05th June, 2023 for term of five (5) years subject to approval of shareholders in the ensuing general meeting. The reason for the change in his designation of Subramanian Parameswaran from Non Executive Director to Independent Director is to comply with Regulation 17 (1)(c) of the SEBI (LODR) Regulations, 2015, as he qualifies for the definition of Independent Director. Further, in compliance with circular No. LIST/COMP/14/2018-19 issued by BSE, the company confirmed that Subramanian Parameswaran had not been debarred from holding the office of Director by virtue of any SEBI order or any other authority.
The above information is a part of company’s filings submitted to BSE.