PK Singhal, who sailed through MCX crisis, retires

Singhal had been at the helm of the exchange's affairs since founder Jignesh Shah's exit in the aftermath of the NSEL fiasco

Parveen Kumar Singhal, the man who saved the Multi Commodity Exchange (MCX) during the most difficult phase in its 14 years of existence, retired on October 13 as the bourse’s joint managing director. Singhal had been at the helm of affairs since the exchange faced a leadership crisis following founder Jignesh Shah’s exit amid regulatory pressure. 

A financial market veteran of 42 years, Singhal steered MCX firmly even as top management personnel left it in quick succession after a special audit of the exchange was ordered in the aftermath of the Rs 5,500-crore scam at group entity National Spot Exchange Ltd