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The Board has approved investing in and incorporating a wholly owned subsidiary in India, named Sitaara Gold & Diamonds Limited, with an authorized capital of INR 10,00,000. This entity, once incorporated, will be a related party to Sky Gold Limited. Mr. Bharat Jhaveri has been appointed as an Additional Director in the category of Non-Executive, Independent Director. He brings extensive experience in the jewellery sector, having consulted for major brands like Tanishq and Aditya Birla Novel Jewels Ltd. His appointment is subject to shareholder approval and is for a term of five years. The Board has also re-constituted the Nomination and Remuneration Committee following this appointment. These developments may enhance the company's strategic growth, with the new subsidiary expected to broaden operational scope and potentially increase revenue streams. Investors should view this as a positive outlook for the company's expansion initiatives.