The board of directors of TANFAC Industries Limited at its meeting held on May 22, 2019 approved the recommendation of dividend of INR 11 per share on 500,000 11% redeemable cumulative non-convertible preference shares of face value of INR 100 each subject to approval by shareholders of the company.

The company also announced the resignation of Mr. Askaran Agarwala as Non-Executive Director of the company. The company also announced the appointment of Mr. Kalyan Ram Madabhushi as Non-Executive & Non-Independent Director of the company with effect from May 22, 2019 subject To Approve the shareholders of the company.