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Multi Commodity Exchange of India has appointed Satyananda Mishra, retired Indian Administrative Service officer, as the chairman. Mishra was the chief commissioner of information till September this year.
Mishra appointment as the chairman comes after the previous chairman of MCX, Venkat Chary, resigned in August as new Forward Markets Commission (FMC) revised it's guidelines in August and the new guidelines stated that the age limit of people on the board should not be more than 70 years.
Miten Mehta, a shareholder director of Financial Technologies has been also appointed on the board of the exchange. According to new FMC guidelines since Financial Technologies is the anchor investor of MCX they have been given one seat on the board of the exchange due to which Mehta has been appointed on the board of the exchange.
C M Maniar and Shvetal Vakil, are the other directors who resigned in the month of August as they were above the age of 70.
MCX also saw the resignation of three other directors, Prakash Apte, Lambertus Rutten, and P.R. Barpande in the month of August for other reasons.
