This Article is From Feb 20, 2014

MCX chief financial officer Vastani resigns

MCX chief financial officer Vastani resigns
New Delhi:

Multi Commodity Exchange (MCX) on Thursday announced the resignation of its chief financial officer Hemant Vastani.

The resignation comes amid the continuing Rs 5,600-crore payment crisis at FTIL-promoted National Spot Exchange Ltd (NSEL)

MCX, in which FTIL holds a 26 per cent stake, said in a BSE filing that the exchange has accepted the CFO's resignation.

It, however, did not specify a reason for his resignation.

In October, Jignesh Shah had resigned as non-executive vice chairman of MCX after the sectoral regulator - Forward Markets Commission - issued notice to him and Financial Technologies India Ltd questioning 'fit and proper' status.

Earlier, MCX managing director Shreekant Javalgekar had also resigned.

In a separate filing, MCX said the board has approved 10,000 employee stock options (ESOPs) at Rs 516.50 apiece to the bourse's CEO and managing director, Manoj Vaish.

The company said these stock options will be granted in four instalments.