Fairchem Speciality Limited announced at its board meeting held on August 12, 2020, approved the acceptance of resignation of Shri. Nahoosh Jariwala, as the Managing Director of the Company effective from close of business hours of August 12, 2020, the effective date. The company also appointed the Shri. Maheshbhai Babani, Managing Director as Chairman of the Board also effective from close of business hours of August 12, 2020 thereby making him Chairman and Managing Director of the Company.