MCX board approves appointment of 5 new directors
   
Quotes

MCX board approves appointment of 5 new directors

Last Updated: Wednesday, October 23, 2013, 13:21
 
 Comment 0
 
MCX board approves appointment of 5 new directors
Mumbai: The Multi Commodity Exchange of India on Wednesday said its board of directors has approved the appointment of two independent directors and three shareholder directors.

The board of directors at its meeting held on October 22, approved the said appointments, the exchange said in a regulatory filing today.

The three shareholder directors are K N Raghunathan, who is the General Manager, Treasury, Union Bank of India, Sanjaya Agarwal, General Manager (Treasury & Investments) Bank of Baroda and P Paramasivam, General Manager, Corporation bank.

Moreover, G Ananth Raman has been appointed as the independent director on the board of the company for a period up to June 20, 2014.

Pravir Vohra has also been inducted as an independent director for a period up to March 31, 2016, the filing said.

The filing added the board has accepted the resignation of Shreekant Javalgekar as MD and CEO of the company with immediate effect and Parveen Kumar Singhal, Deputy Managing Director (non-board) has been directed to take care of the day-to-day affairs of the exchange until a new incumbent is appointed as MD and CEO.

A fortnight ago, MCX promoter Jignesh Shah and Joseph Massey were forced to opt out from the board of the stock exchange arm of the FTIL, MCX-SX. Massey was an MD on the stock exchange. MCX MD Shreekant Javalgekar had also resigned last week.

The market was anticipating Shah's resignation from MCX board as well against the backdrop of the payment crisis of Rs 5,600 crore in the group company, National Spot Exchange (NSEL).



PTI

First Published: Wednesday, October 23, 2013, 13:05


Comments


comments powered by Disqus
New Vento 2015
New Vento 2015
Audi all-new SUV Q3
Audi all-new SUV Q3
Indian Billionaire Daughters
Indian Billionaire Daughters
TOP 5  happy cities of India
TOP 5 happy cities of India
Forbes Top 10 Billionaires 2015
Forbes Top 10 Billionaires 2015

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved