Date: 17th June 2019

To, The Manager

Listing Department,

Bombay Stock Exchange Limited,

P. J. Tower, Dalal Street,

Mumbai - 400 001

Ref: -Securih/. Code No.530825

Sub: Outcome of Board meet in^ (Disclosure under Realation 301 The Board of Directors at their meeting held today i.e. 17th June 2019 has transacted the following items

of business: 1. Resignation of Statutory Auditor:

The statutory auditor CNK & Associates LLP, Chartered Accountant (FRN: 126272W) expressed their unwillingness to continue as the statutory auditor of the Company from F.Y. 2019-20 and has resigned with immediate effect (i.e. 17th June 2019).

2. Appointment of new Statutory Auditors in place of CNK & Associates LLF:

The Board of Directors appointed KC Mehta & Co., Chartered Accountants, Mumbai as the new statutory auditors of the Company.

Information as required under regulation 30 read with circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015 is given below:

a. Reason for : The current Auditors i.e. CNK & Associates LLP, were of the view to Change increase the fee from F.Y. 2019-20 due to increased work load affected by

Indian Accounting Standards; however, management was of the opinion that in F.Y. 2018-19 the Company has posted an inadequate profit and increasing the fee at this juncture will not be in the best interests of the Company. Therefore, the auditor and Management had amicably decided to part ways and the Board of Directors accepted statutory Auditors resignation.

b. Date of : KC Mehta & Co., Chartered Accountants, is appointed with immediate Appointment effect (i.e. June 17, 2019) subject to the approval of shareholders in the and term of ensuing 27th Annual General Meeting. Appointment

And if their appointment is confirmed by the Members, they shall hold office from the conclusion of 27th Annual General Meeting to the conclusion of 32"* Annual General Meeting i.e, for a period of Five years.

c. Brief Profile : Established five decades ago, KC Mehta & Co. has, over the years, expanded into a dynamic organization that offers a spectrum of financial services to diverse clientele. As a vibrant association that brings together great minds at work, we adopt a pro-active approach to respond to business needs.

DAlKAFFlL CHEMICALS INDIA LIMITED 52, Narirnan Bhavan, Narirnan Point, Murnbai - 400 021 T: (91-22) 6101 6699 E: info@daikaffil.com W www.daikaffiI.com GIN NO: L24114MHl992PLG067309 Regd. Off. Works : V4, M.I.D.C. Tarapur, Boisar - 401506. Dist. - Palghar , Maharashtra T: 02525 272674 E: works@daikaffil.com W: www.daikaffil.com EXPORT HOUSE (RECOGNISED BY MINISTRY OF COMMERCE & INDUSTRY)

Headquartered in Mumbai India at 508, 5th Floor, The Summit Business Bay, Nr. WEH Metro Station, Off Andheri, Kurla Road, Gundavali, Andheri East, Mumbai, 400069, with branches in Vadodara, Ahmedabad and Bengaluru, they cater to clients across several geographies and service lines.

The Meeting Commenced a t 11 a.m. and concluded a t 12:00 p.m.

Kindly take the above on record.

Thanking you,

Yours faithfully,

For DAIKAFFa CHEMICALS INDIA LIMITED

(Mo ~Lvkar)

Company Secretary

DAlKAFFlL CHEMICALS INDIA LIMITED 52, Narirnan Bhavan, Narirnan Point, Murnbai - 400 021 T: (91-22) 6101 6699 E: info@daikaffiI.com W: vvww.daikaffil.com CIN NO: L24114MH1992PLC067309 Regd. Off. Works : V4, M.I.D.C. Tarapur, Boisar - 401506. Dist. - Palghar , Maharashtra T: 02525 272674 E: works@daikaffil.com W: www.daikaffil.com EXPORT HOUSE (RECOGNISED BY MINISTRY OF COMMERCE & INDUSTRY)

IS0 9001 : 2016 FM : 86716

CN I< & Associates Chartered Accountants

M i B h v m , 3rd Floor, Dinshaw V& Road, Churchete, Mu& - 400 020. LLp %I.: +91-22-6623 0600 N.1- Chnan, 5th Floor, M. G. R o d , V& Rule (E), Mumbai - 400 057. Tel.: +91-22-62507600

Date: June 14,2019

TO, Board of Directors,

Daikaffil Chemicals lndia Limited, 52, Nariman Bhavan, Nariman Point, Mumbai - 400021

Sub: Resignation as Statutory Auditors of Daikaffil Chemicals lndia Limited.

Dear Sirs,

This is with reference to your letter dated June 13, 2019, wherein you have not agreed to our proposed statutory audit fees including Limited Review Fees for the Financial Year 2019-20.

It is in this regard that we are resigning as statutory auditor of the company with immediate effect as a consensus could not be reached in respect of fees as mentioned above.

Yours sincerely,

Partner