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E-mail ID will not be published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.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • India would have done well not to supress the 'Bofors interview'

    Bofors is one case that refuses to go away two-and-half decades after it grabbed public attention and became a byword for political corruption, claimi

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

Biogas Potential in India

Biogas is a form of renewable energy produced from organic ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture