Baba Arts Limited informed that based on the recommendation of the Nomination and Remuneration Committee and Board of Directors of Company, the Members of the Company, through the Postal Ballot held by remote e-voting which opened on 28th February, 2024 and closed on 28th March, 2024, have duly approved the following three appointments of Independent Directors: Mr. Hasmukh Nanji Shah as an Independent Director for a first term of five consecutive years with effect from 1st April, 2024. Mr. Shekhar Mennon as an Independent Director for a first term of five consecutive years with effect from 1st April 2024. Mr. Hemraj Chheda as an Independent Director for a first term of five consecutive years with effect from 1st April 2024.

Mr. Hasmukh Nanji Shah is a leader in the movie business since 1980s. He started his career with the trading of white goods and his electronics store by name "Modern Electronics" which emerged as a leading Consumer Electronics showroom in Mumbai. He then began manufacturing of pre-recorded video cassettes under the banner of "Time Audio".

In 1997, all of Time's activities were integrated under Time Media and Entertainment Pvt. Ltd. (TIME) In the late 1990s, Time was involved in the licensing of film video content to numerous TV channels as it held a large library of titles with copyrights. Time produced & presented 35+ Bollywood Blockbusters such as Vijay Path, Sabse Bada Khiladi.

Krishna, Khiladivon Ka Khiladi, Kurukshetra, Hu Tu Tu, Jodi No. I, The Hero-Love Story of a Spy and many other titles. Television came next and serials like Dishayen, Khushiyaan, Sanskar and others were produced for Doordarshan.

Time's gamut of businesses included film distribution and saw success with Gadar-Ek Prem Katha on the Bombay circuit. He also ventured into the film exhibition business in 2007 with Gold Cinema, which has blossomed into a leading chain of cinemas with a wide presence across 9 states in India. Shri Hasmukh Nanji Shah IS currently looking after the complete management and expansion of Gold Cinema.

-approximately approximately Shri Shekhar Mennon is a Law Graduate and also a Fellow Member of ICSI. He is a Media & IP Lawyer having experience of more than two & half decades with comprehensive exposure in legal, business, and strategic functions in TMT Industries- (Technology, Media and Telecommunication), Copyrights Societies, M & E Associations and Broadcasting Organisations. A pragmatic attorney, who methodically advises clients in cross-border Intellectual Property transactions, negotiating complex new media contracts, financing with corporate direct and indirect taxation, advisory, addressing the value gap implementation on Meta-verse compliances for blockchain, Artificial Intelligence /Data Analytics on virtual reality with different types of utility tokens and virtual collectibles (NFTs) for digital economy or entering innovative new markets, or navigating changes to intellectual property legislations.

Further, he regularly provides advisory services for major Film banners /labels, artists, performers, directors, production houses, Copyright administration societies, associations, music publishers, digital companies and OTr platforms. Presently, he IS practicing at Bombay High Court as well as in Supreme Court of India. Shri Hemraj Chheda is qualified Chartered Accountant (CA), Cost Accountant, Company Secretary, and Law Graduate. He has extensive 42 years practice experience as Chartered Accountant in various aspects of accounting, taxation and financial consulting.

He has worked with diverse range of clients across different industries, giving him a well rounded understanding of business operations and challenges.