This Article is From May 23, 2014

Multi Commodity Exchange Appoints P K Singhal as Interim CEO

Multi Commodity Exchange Appoints P K Singhal as Interim CEO

Multi Commodity Exchange of India (MCX) has appointed P K Singhal as its interim CEO.

"The MCX board, at its meeting today, appointed P K Singhal as interim CEO of the exchange," the MCX said in a statement today.

The key post had fallen vacant on April 30, when its Managing Director and CEO Manoj Vaish resigned citing "health reasons", after which two committees were formed to look after the daily operations of the exchange.

Earlier, Singhal was the Deputy Managing Director of MCX and also served as its Senior Vice-President and Head of Business Development (North).

Meanwhile, sources said that the board has also decided to share the PriceWaterhouseCoopers (PwC) forensic audit report on MCX with the bidders of Financial Technologies' stake in MCX.

Bidders are to give binding offers to JM Finance, the banker appointed for the stake sale, which would send proposals to a committee formed by Financial Technologies Ltd (FTIL).

The committee would give its recommendation and the board of the company would clear it.

Incidentally, FTIL has called a board meeting tomorrow.