THERMAX LTD. - Certificate Pursuant To Regulation 40(9) Of The SEBI(LODR) REGULATIONS, 2015.

Certificate dated April 14, 2017, issued by Manish Ghia & Associates, Practicing Company Secretaries, regarding issuance of share certificate for transfer, sub-division, consolidation, renewals, etc. for the period October 01, 2016 to March 31, 2017 pursuant to Regulation 40(9) of the SEBI(LODR) REGULATIONS, 2015.