The Board of Directors of Polar Pharma India Limited at its meeting held on May 30, 2002 has appointed Dipankar Palit as the nominee director of Industrial Investment Bank of India Ltd.

Palit has also been inducted as a member of the audit committee, shareholders grievance committee and share transfer committee. A.K. Tibrewala has been named the President (Finance) and P.K.Roy as the Company Secretary to ensure compliance with all the requirements specified under the SEBI (Prohibition of Insider Trading) Regulations, 1992 and the codes thereunder.

The company's EGM has been convened on July 22, 2002;, the company informed BSE.