Motilal Oswal Financial Services Ltd. has announced that Mr. Balkumar Agarwal was appointed for the period of one year as Independent Director in the annual general meeting held on August 22, 2014, to hold the office till the conclusion of next annual general meeting. Accordingly, the tenure of Mr. Balkumar Agarwal, Independent Director of the company, expired on August 08, 2015 at the annual general meeting of the company and he ceases to be an Independent Director of the company from the conclusion of the annual general meeting held on August 08, 2015.