Manoj Vaish has resigned as managing director and chief executive officer of the commodity exchange MCX just three months after joining the bourse, citing health reasons.
"Manoj Vaish has resigned from the position yesterday on health grounds. Vaish has asked the exchange to relieve him at the earliest," MCX Chairman Satyendra Mishra told PTI.
The resignation comes amid a tussle between Multi Commodity Exchange of India and erstwhile promoter Financial Technologies (India) Ltd on the issues of divestment of FTIL's stake in the bourse and PwC's audit report on corporate governance at the exchange.
Vaish's resignation will be placed before the MCX board when it meets next. He will work with the board of directors during the transition period until a new chief is appointed, Mishra said.
Vaish joined MCX on February 1, replacing Shreekant Javalgekar, who stepped down following the Rs 5,600-crore payment crisis at FTIL's subsidiary National Spot Exchange Ltd (NSEL), which surfaced in July.
The FMC had asked MCX to ensure completion of the divestment by April 30. However, the process could not be completed as bidders sought more time to study the PwC report on transactions between MCX and FTIL group firms.