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New Delhi, July 10 (UNI) Mahindra&Mahindra Financial Services Ltd re-appointed Mr Ramesh Iyer as Managing Director of the company for a period of five years with effect from April 30, 2006.

The decision in this effect was taken at 16th Annual General Meeting (AGM) of the company held today, a company statement said.

The AGM also approved the increase in Foreign Institutional Investor Limits from 24 per cent to 35 per cent of the paid-up Equity Share Capital of the Company.

UNI VJ RA HS2047