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E-mail ID will not be published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

  • Indian-promoted global corporations must follow accounting best practices

    The international advisory board (IAB) of capital market regulator Securities and Exchange Board of India (Sebi) has suggested that separate governanc

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

Cost of education must be controlled

In India, we pay very little attention to the cost ...

Rajgopal Nidamboor

Focus to keep your daily qualms at bay

Philosophers and scientists have, for long, compared the human brain ...

Gautam Gupta

What we can learn from the French fashion scene

It was a pleasure and a treat to experience one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture