Muzali Arts Ltd - Announcement under Regulation 30 (LODR)-Resignation of Director

1. Mr. Jaymin Piyushbhai Modi, an Independent Director of the Company; submitted his resignation with effect from 14th January, 2021, subject to approval of Board of Directors; He has stated the reason for resigning is, to change in management of the company upon successful completion of open offer as per SEBI (SAST) Regulations, 2011. He has also confirmed that there are no other material reason other than what is stated in his resignation. <BR> <BR> 2. Mr. Mohil Dilipkumar Khetani, an Chief Financial Officer of the company his resignation with effect from 14th January, 2021, subject to approval of Board of Directors; He has stated the reason for resigning is, to change in management of the company upon successful completion of open offer as per SEBI (SAST) Regulations, 2011. He has also confirmed that there is no other material reason other than what is stated in his resignation. <BR>