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MCX gets time till Nov 2 to appoint new MD & CEO

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Press Trust of India New Delhi
Last Updated : Sep 22 2014 | 9:21 PM IST
Commodity bourse MCX has got time till November 2 to appoint a new Managing Director and CEO.
In a filing to the BSE, MCX said: "...We have received letter...Dated 22nd September from our regulator FMC informing their approval for extension of time for a period of two months till 2nd November 2014, for appointment of MD and CEO of the exchange".
The MD & CEO post has been lying vacant since the first week of May this year when Manoj Vaish resigned citing health reasons.
At present, MCX's Executive Vice president P K Singhal has been given the charge of MD.
MCX has called its annual general meeting tomorrow where shareholders' approval would be sought to appoint Singhal as Joint-Managing Director.
Vaish had joined MCX on February 1, replacing Shreekant Javalgekar, who stepped down following the Rs 5,600-crore payment crisis at FTIL's subsidiary National Spot Exchange Ltd (NSEL), which surfaced in July.

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Earlier this month, the regulator had said that MCX would be allowed to roll out contracts for all 12 months of 2015 once the full divestment of Jignesh Shah-led Financial Technologies in MCX takes place as per the regulatory norms.
Kotak Mahindra Bank has acquired 15 per cent stake in MCX for Rs 459 crore from Jignesh Shah-led FTIL.
Shares of the MCX today closed at Rs 824.05 a piece on BSE today.

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First Published: Sep 22 2014 | 9:21 PM IST

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