Indian Card Clothing Company announced the resignation of Vinod Vazhapulli - Manager, designated as the 'Chief Executive Officer' (Whole-time Key Managerial Personnel) of the Company with effect from 31 December 2018.

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The Board of Indian Card Clothing Company at its meeting held on 30 October 2018 has approved the following -

A) appointment of Darshan Bhatia (Director Identification Number - 08257246) as an Additional Director (Independent) of the Company, with effect from 30 October 2018, who shall hold office upto the ensuing Annual General Meeting. Further, the Board of Directors and its Nomination & Remuneration Committee while considering this appointment has verified that he is not debarred from holding the office of Director by virtue of any SEBI Order or any other authority. In this regard, please find enclosed brief profile of Darshan Bhatia;

B) approved the appointment of Darshan Bhatia as an Independent Director for a tenure of 5 (five) years with effect from 30 October 2018, subject to the approval of the members in the ensuing Annual General Meeting.

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Net loss of Indian Card Clothing Company reported to Rs 5.12 crore in the quarter ended September 2018 as against net profit of Rs 0.26 crore during the previous quarter ended September 2017. Sales declined 19.29% to Rs 10.29 crore in the quarter ended September 2018 as against Rs 12.75 crore during the previous quarter ended September 2017.

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Indian Card Clothing Company will hold a meeting of the Board of Directors of the Company on 30 October 2018 to consider and approve the unaudited financial results of the company for the quarter and half year ended 30th September, 2018.

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