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March 10, 2007

Changes in the Composition of the Board of Directors

  1. Mr.P.C. Parakh has been appointed as Additional Director on the Board of the Company w.e.f. 7-3-2007. He will be a non-executive and independent director.
  2. Mr.Ashok Pandit the existing Managing Director of the Company retired from the services of the Company w.e.f. 10th March, 2007 after completing his second term on 9-3-2007. Consequent upon this, he also ceased to be a director of the company w.e.f. 10th March, 2007.
  3. Mr.Suresh Thawani has been appointed Additional Director w.e.f. 10th March, 2007. He has also been appointed as the Managing Director of the company w.e.f. 10th March, 2007 for a period of 3 years.
  4. Mr.Sudhir Deoras has resigned from the post of Joint Managing Director of Tata Sponge Iron Ltd. His resignation has been accepted by the Board, which will be effective from 1st April, 2007. Consequent upon this, he will cease to be the Jt. Managing Director as well as director w.e.f. 1-4-2007.
  5. However, Mr.Sudhir Deoras has again been appointed as Additional Director in the non-independent and non-executive capacity w.e.f. 1st April, 2007.