On May 1, 2025, ISGEC Heavy Engineering Limited disclosed an important update regarding a change in the senior management. The company announced the retirement of Mr. Lazar Pilli, Officer on Special Duty, who has been serving in a senior management capacity at the company. This change will take effect from the close of business hours on May 2, 2025. The company shared this update in compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Lazar Pilli's Retirement

Pursuant to Regulation 30 of the SEBI Listing Regulations, which governs disclosures related to material events and changes in senior management, ISGEC has made this public announcement about Mr. Lazar Pilli’s retirement. The company confirmed that Mr. Pilli will retire due to superannuation and, as such, he will cease to be a part of the senior management team starting from May 2, 2025.

• Reason for Change: The reason for Mr. Lazar Pilli’s departure is listed as "superannuation," which signifies that he is retiring after reaching a certain age or tenure in his role.

• Date of Cessation: The retirement is effective from the closing hours of May 2, 2025.

Key Points to Note:

• No Resignation or Removal: Unlike some corporate transitions, this is a retirement, not a resignation, removal, or any other form of separation. Therefore, the company has clarified that no resignation letter is necessary in this instance.

• Relationships with Directors: The company further confirmed that there are no relationships between Mr. Pilli and the directors of the company that would be impacted by this change. This ensures a smooth transition with no disruption in governance or management structure.

Compliance with SEBI Circulars

In compliance with SEBI's regulations and the SEBI Circular (SEBI/HO/CFD/PoD2/CIR/P/0155) issued on November 11, 2024, ISGEC has provided all necessary details about the retirement of Mr. Lazar Pilli. The disclosure includes specifics about the cessation date and the reason for the change, as required by the listing regulations.

Additionally, the company has made this announcement available on its official website at www.isgec.com for public access and transparency.

Conclusion

This announcement marks the retirement of a key member of the senior management team at ISGEC Heavy Engineering Limited. The company’s commitment to transparency and compliance with SEBI regulations is evident in their prompt and clear disclosure of the event. As the company moves forward, stakeholders can be assured that the governance structure remains intact with no adverse effects from Mr. Pilli’s departure.

This disclosure serves as part of the company’s ongoing efforts to keep investors and the public informed about significant changes in its leadership and operations. ISGEC Heavy Engineering Limited continues to maintain strong corporate governance and complies with all relevant regulations to ensure transparency in all material events.

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