Oracle Financial Services Software Limited at its board meeting held on May 9, 2019, noted the resignation of Ms. Maria Smith, Non Executive Non Independent Director of the Company, with effect from the close of business hours of May 9, 2019. The company approved the appointment of Mr. Makarand Padalkar, Chief Financial Officer of the Company, as an Additional Director in the capacity of Whole-time Director and Chief Financial Officer of the Company with immediate effect, to hold office until the upcoming Annual General Meeting of the Company for a term of five consecutive years from May 9, 2019 up to May 8, 2024, liable to retire by rotation. The Additional Director has confirmed that he is not debarred from holding the office of a Director by virtue of any SEBI order or any such authority. The company approved the reconstitution of the Audit Committee with Mr. Richard Jackson, Chairperson, Non-Executive, Independent Director; Mr. S Venkatachalam, Member, Non-Executive, Independent Director; Mr. Sridhar Srinivasan, Member, Non-Executive, Independent Director; and Ms. Jane Murphy Member, Non-Executive, Independent Director.