Atlas Jewellery India Limited announced that at the board meeting held on March 29, 2020, it has approved request made by Ms. Mandira Mutum, the present Whole-Time Director of the Companies of her decision to not seek re-appointment as Whole time Director of the Company once her present term comes to an end on March 31, 2020. The Board requested Mr. Nanda Kumaran Puthezhath, Non-Executive Director and Chairman of the Company to assume the position of the Whole -Time Director and Chairman as an interim measure effective from April 1, 2020 to September 30, 2020, thereby allowing the Board sufficient time to find a suitable replacement. This has been duly accepted by him.

The company announced that keeping in mind the safety of all the employees and stakeholders, the operations of the Company at the Registered Office and other offices have been closed as per the aforementioned directions. The Board also took note of the likely disruption in retail operations of the Company due to COVID-19 pandemic (force majeure event) with the closing down of its retail showrooms with effect from March 21, 2020. This is expected to have significant impact on the Company's cash flow position as well its business operation which is difficult to assess at this stage.