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FMC-appointed MCX Board member quits

The MCX on Friday said that FMC-nominated independent director S N Ananthasubramanian has resigned from the Board of the company. In a filing to the BSE, the commodity bourse MCX said that Ananthasubramanian has resigned from the Board vide his letter dated July 28, 2014.

Also, commodity markets regulator Forward Markets Commission (FMC) has communicated that it has accepted his resignation and that his position as FMC nominee independent director falls vacant till further nomination, the filing added.

After resignation of Ananthasubramanian, the number of FMC nominated independent directors has come down to five on the MCX Board. Out of five, Satyananda Mishra is chairman of the exchange.

The resignation comes in the backdrop of FTIL recently announcing signing of an agreement with Kotak Mahindra Bank for sale of 15 per cent stake in MCX.
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