Outcome of board meeting of Cals Refineries

Held on 10 February 2015

Cals Refineries announced that the Board of Directors of the Company at its meeting held on 10 February 2015, inter alia, has decided /approved the followings:

1. Pursuant to section 149 of the Companies Act, 2013, read with clause 49 Listing Agreements Board has appointed Monika Moorjani, as an additional Director in Non-Executive Independent Category with effect from February 10, 2015.

2. That the investigation of Serious Fraud Investigating Office (SFIO) against the Company has been initiated.

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