Margo Finance Limited announced that the appointment of Ms. Smita Kulkarni as an additional independent director of the company for a term of five consecutive years with effect from May 8, 2018 subject to the approval of shareholder in the ensuing Annual General Meeting. Her appointment also fulfills the requirement of filling up the vacancy of woman director within prescribed time. She retired from VIP Industries Limited after serving a long tenure of more than 35 years. She is not related to any of the directors of the company.