On November 5, 2024, Saregama India Limited formally announced to the stock exchanges the resignation of Mr. Kumar Ajit, who held the role of Executive Vice President, Music & Retail. As per the requirements of Regulation 30 under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company promptly informed both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) of this senior managerial personnel change.

Overview of Resignation Disclosure

• Effective Date: Mr. Kumar Ajit’s resignation took effect at the close of business on November 4, 2024. The departure has been attributed to personal reasons as stated in his official resignation letter, which has been attached as Annexure B to the formal disclosure.

• SEBI Compliance and Corporate Governance: In line with SEBI mandates for transparent governance, Saregama ensured timely communication of this significant change to both stock exchanges. This adherence to SEBI’s Regulation 30 underscores the company’s commitment to high standards of corporate transparency and investor trust.

• Enclosures and Supporting Documents: Alongside the formal disclosure, the company included Annexure A, which details Mr. Kumar Ajit’s position, resignation reasons, and effective date. Annexure B encompasses Mr. Ajit’s resignation letter, providing additional insights into his decision to leave.

Key Takeaways for Stakeholders and Investors

As a Senior Management Personnel (SMP), Mr. Ajit’s contributions to Saregama’s Music & Retail sector have been impactful. His exit could indicate potential realignments or new strategic leadership within this business division. For investors, senior-level changes often warrant careful attention, as they may affect future business performance, corporate strategy, and operational continuity.

Saregama India Limited’s commitment to adhering to SEBI disclosure norms reflects well on its corporate governance practices. The company’s swift action in announcing Mr. Ajit’s resignation also ensures that stakeholders are kept fully informed, maintaining trust and transparency in the corporate relationship with investors and partners.

Additional Information

For further details, Saregama India Limited encourages stakeholders and interested parties to visit the official company website at www.saregama.com. All disclosures, including the full resignation letter and supplementary details, are available to ensure comprehensive understanding and accessibility for all concerned parties.

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