Karnavati Finance Limited announced that at its board meeting held on January 16, 2021, accepted resignation of Mr. Kashyap Bharatkumar Vyas as Non-Executive Non Independent Director from the Board of the Company vide his letter dated January 16, 2021; approved appointment of Mr. Vineshkumar Popatlal Makadia as a Non-executive Director on the Board of the Company with effect from January 18, 2021. Mr. Vineshkumar Popatlal Makadia possesses seven years' experience for managing the affairs of Non-banking finance companies and he has severed Karnavati Finance Limited for a period of seven years as a director from September 30, 2006 to July 03, 2014.