On Air Now

Current Show

Mark Levin Show   6:00 PM - 9:00 PM

Call Mark now at 1-877-381-3811

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
63° Feels Like: 63°
Wind: W 14 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 52°

Tomorrow

PM Thunderstorms 75°

Wed Night

Isolated Thunderstorms 57°

Alerts

India's MCX says CEO submits resignation

A staff member walks past the MCX-SX logo at their Exchange Square building in Mumbai February 11, 2013. REUTERS/Vivek Prakash
A staff member walks past the MCX-SX logo at their Exchange Square building in Mumbai February 11, 2013. REUTERS/Vivek Prakash

MUMBAI (Reuters) - The Multi Commodity Exchange of India Ltd said on Saturday its managing director and chief executive officer, Shreekant Javalgekar, had submitted his resignation from the company, in which Financial Technologies holds a 26 percent stake.

It did not specify a reason for the resignation in a statement.

Financial Technologies also owns National Spot Exchange Ltd (NSEL). The NSEL has been under investigation by local police since last month after India's commodities regulator ordered it to suspend trading over suspected violations of rules on contract duration.

The MCX board will meet on Tuesday to discuss the appointment of a new CEO, its spokesman said.

(Reporting by Himank Sharma, Siddesh Mayenkar and Aradhana Aravindan in MUMBAI; Editing by Ron Popeski)

Comments