Multi Commodity Exchange of India Limited informed that, the Shareholders of the Company in its 20th Annual General Meeting held on September 27, 2022 had approved appointment of Mr. Arvind Kathpalia (DIN: 02630873) as a Shareholder Director on the Board of the Company, subject to approval of SEBI. The Company has received SEBI approval vide letter ref. no.

SEBI/HO/MRD/RAC-1/P/OW/2022/60877/1 dated 6th December, 2022, and accordingly, Mr. Kathpalia's appointment as Shareholder Director has been effective from 6th December, 2022. The same has been approved by the Board of Directors on 7th December, 2022. Educational qualification University Ranker in B.A. (Hons)- Economics from Delhi University MBA from FMS (Faculty of Management Studies), Delhi with specialisation in Marketing and Finance.

Mr. Kathpalia joined Kotak Group in 2003 as Group Head Operations, Technology and Finance. He retired as the Group Chief Risk Officer at the Kotak Mahindra Bank in March 2018. In this role, he held overall responsibility for Integrated Risk Management.

Post retirement he continued to practice as a Consultant. Prior to joining Kotak, he held several leadership positions both in India and overseas with ANZ Grindlays and Standard Chartered Bank.