Outcome of Board Meeting

• Security Code: 533272
• Company: JWL

Commercial Engineers & Body Builders Co Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 25, 2013, has transacted the following:

1. Consideration of resignation of Mr. Ajay Gupta

The Board considered the resignation letter dated March 26, 2013 of Mr. Ajay Gupta, Whole Time Executive Director of the company, who was solely responsible for managing the corporate and financial affairs of the Company for couple of years and after due deliberation decided to keep it in abeyance till the formalities relating to handing over of charge to an appropriate person and a status report of the projects exclusively managed by him.

2. Appointment of New Internal Auditor in place of existing internal Auditor

The board appointed M/s. TMG & Associates, Chartered Accountants, Mumbai as new Internal auditor of the Company in place of M/s Sameer Jain & Associates to strengthen the system and processes in the company as the company has grown manifold in terms of sales and number of manufacturing locations during last couple of years. The new firm has 5 branches and experience of over 30 years of carrying systems and internal audits of several large and medium size manufacturing companies.

3. Appointment of CEO

Mr. Deepak Tiwary has been appointed as Chief Executive Officer of the Company by the Board of Directors.

4. Resignation of Mr. Akhil Awasthi

Resignation tendered by Mr. Akhil Awasthi, Nominee Director of Tata Capital Growth Fund I dated March 18, 2013 was accepted and Mr. Kailash Gupta was authorised to do the necessary formalities in this regard.

5. Reconstitution of Remuneration Committee

Due to the resignation of Mr. Akhil Awasthi, a vacancy was created in the committee which was fulfilled by appointment of Mr. Sudhir Vadehra as one of the member of the Remuneration Committee.

Reconstituted Remuneration Committee stands as follows:

• Mr. Sudhir Vadehra

• Mr. S. P. Shah

• Mr. Ravi Gupta.