Independent Directors Nawshir Mirza & Jairam Varadaraj Retired from Thermax

Nawshir Mirza and Dr. Jairam Varadaraj ceased to be Non-Executive, Independent Directors of Thermax Limited upon completion of their second term of five years on July 21, 2024.

Nawshir Mirza is a fellow of the Institute of Chartered Accountants of India (ICAI). He spent the majority of his career with Ernst & Young (EY) and its Indian affiliate, S. R. Batliboi & Co., Chartered Accountants, and its predecessor firm, Arthur Young, where he was a partner. He actively supports Childline, a national NGO for abused and distressed children, and serves as the Honorary Treasurer of the Indian Red Cross, Maharashtra, and as a trustee of the Narielwala Fire Temple in Mumbai.

Dr. Jairam Varadaraj is the Managing Director (MD) of ELGI Equipments and serves on the Boards of Elgi Ultra Industries, Elgitread (India), and Precot Mills. He has 16 years of diverse experience in India across textiles, polymers, mechanical machines, and consumer appliances; he also spent 4 years teaching and researching in the US. He was Chairman of the Tamil Nadu State Committee of the Confederation of Indian Industry (CII). He earned his Ph.D. from the University of Michigan and his MBA from George Washington University.