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NSEL crisis fallout: After Jignesh Shah, Multi Commodity Exchange's Shreekant Javalgekar quits

Oct 19 2013, 21:26 IST
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Financial Technologies, which owns crisis-ridden National Spot Exchange, holds 26 per cent stake in Multi Commodity Exchange of India Ltd (MCX). Financial Technologies, which owns crisis-ridden National Spot Exchange, holds 26 per cent stake in Multi Commodity Exchange of India Ltd (MCX).
SummaryJignesh Shah, Joseph Massey had earlier resigned from Multi Commodity Exchange board.

since July 1, 2012, and was responsible for all aspects, including financial management, investor relations, corporate governance and strategies.

Prior to this, Javalgekar was finance and communications director at parent firm Financial Technologies.

The MCX board will meet next Tuesday to discuss the appointment of independent and institutional shareholder directors and a new managing director, the spokesman said.

Financial Technologies holds a 26 per cent stake in the commodity exchange.

FTIL also owns the NSEL, which is facing a Rs 5,600 crore payment crisis after the exchange said on July 31 it had halted trading.

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