MCX says CEO Javalgekar submits resignation
MUMBAI (Reuters) - The Multi Commodity Exchange of India Ltd (MCEI.BO) said on Saturday its managing director and chief executive officer, Shreekant Javalgekar, had submitted his resignation from the company, in which Financial Technologies(FITE.NS) holds a 26 percent stake.
It did not specify a reason for the resignation in a statement.
Financial Technologies also owns National Spot Exchange Ltd (NSEL). The NSEL has been under investigation by police since last month after India's commodities regulator ordered it to suspend trading over suspected violations of rules on contract duration.
The MCX board will meet on Tuesday to discuss the appointment of a new CEO, its spokesman said.
(Reporting by Himank Sharma, Siddesh Mayenkar and Aradhana Aravindan in MUMBAI; Editing by Ron Popeski)
- Tweet this
- Share this
- Digg this
One night in August on the Delhi-Jaipur highway, an angry mob ran amok. The rioters were incensed over an issue arguably as old as India itself: the eating of beef. Perhaps surprisingly in a country where so many people view cows as sacred, India could soon become the world's biggest beef exporter, according to the United States Department of Agriculture (USDA). Full Article
Amount of dirty money leaving developing world jumped 14 pct in 2011 - report. Full Article