Paras Ajmera, Director of Multi-Commodity Exchange (MCX) resigned from the board on 12 November 2013.
Paras Ajmera is a nominee of promoter Financial Technologies India Ltd (FTIL) to the board of directors of Multi Commodity Exchange of India Ltd (MCX).
MCX on 13 November 2013 informed the BSE that FTIL had withdrawn the nomination of Paras Ajmera, a shareholder director, from the board with effect from 12 November 2013, consequent to his resignation from the MCX Board.
The resignation came amid the continuing 5600 crore Rupees payment crisis at the FTIL-promoted National Spot Exchange Ltd (NSEL). Paras Ajmera was the only FTIL representative on the MCX Board after FTIL’s founder Jignesh Shah resigned from the board in October 2013.
The Multi Commodity Exchange of India Limited (MCX), India’s first listed exchange, is a state-of-the-art, commodity futures exchange that facilitates online trading, and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management.
The Multi Commodity Exchange, which started operations in November 2003, operates within the regulatory framework of the Forward Contracts Regulation Act, 1952 (FCRA, 1952).
Who: Paras Ajmera
When: 12 November 2013