Motilal Oswal Financial Services Limited announced at the board of directors meeting held on July 31, 2019, the shareholders appointed Mr. Raamdeo Agarawal as Non-Executive Chairman of the Company with effect from October 14, 2019. Mr. Agarawal will cease to be the Joint-Managing Director of the Company due to expiry of his term of appointment with effect from closure of business hours of October 13, 2019 and he continues as Non-Executive Director of the Company.