Muzali Arts Limited announced that Mr. Jaymin Piyushbhai Modi, an Independent Director of the Company; submitted his resignation with effect from 14 January 2021, subject to approval of Board of Directors; He has stated the reason for resigning is, to change in management of the company upon successful completion of open offer as per SEBI (SAST) Regulations, 2011. He has also confirmed that there are no other material reason other than what is stated in his resignation.