MCX appoints one more shareholder director on its Board

Tags: Companies
Leading commodity bourse MCX today said it has appointed Rajiv S Abhyankar, General Manager at Bank of Baroda, as shareholder director on its board to comply with revised regulatory norms.

The appointment of Abhyankar as shareholder director on the company's board would be subject to approval from the commodity markets regulator Forward Markets Commission (FMC), the exchange said in a BSE filing.

The MCX Board currently comprises seven independent directors and six shareholder directors.

After Rs 5,600 crore payment crisis at the NSEL, the regulator FMC had directed national level bourses including MCX to reconstitute their boards in line with the revised guidelines.

As per the revised norms, representation of shareholders from government companies, banks, public financial firms, cooperative societies, warehousing companies, stock and commodity bourse-- on the board of the exchange should not be less than one-half of the total number of shareholder directors.

Also any of these shareholders should not have more than one representative on the board.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sebi must not be lax in weeding out mutual fund houses

    Last May, capital market regulator Securities and Exchange Board of India (Sebi) amended the Sebi (mutual funds) regulations, 1996, directing all fund

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

New model for effective education

After interacting with students and teaching community on a ...

Rajgopal Nidamboor

Let the spirit of sport pervade everyday life

Sport, like meditation, is nothing short of a spiritual act. ...

Shona Adhikari

Pop art is truly a feast for the eyes

The internationally reknowned Bruno Art Group’s presence in India had ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture