MCX appointed Satyananda Mishra, former chief information commissioner & IAS officer as the Chairman of the Board on FMC approval
Multi Commodity Exchange of India Ltd (MCX) said it appointed Satyanand Mishra, the former chief information commissioner as its new chairman.
In a release, MCX said, following approval from Forward Markets Commission (FMC) it appointed Mishra as its independent director till 31 March 2016.
MCX also recommended to FMC the appointment of Miten Mehta as a shareholder director of its promoter Financial Technologies India Ltd (FTIL) on its board.
On 31st October, Jignesh Shah had resigned as non-executive vice-chairman of MCX after sector regulator FMC issued a notice to him and FTIL. MCX fiasco was due to the imposition of commodity transaction tax (CTT) applied in July and recent payment crisis at NSEL.
Earlier this month, Paras Ajmera, the last nominee of promoter FTIL and Shreekant Javalgekar, managing director and chief executive officer of MCX have also resigned from the commodity exchange's board due to Rs5,600 crore payment crisis at the FTIL-promoted National Spot Exchange Ltd (NSEL).
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