FMC bars Chennai firm from trading

The regulator has prohibited the company from entering into any forward contracts for the sale or purchase of any goods or class of goods either on its own or through another member of a recognised commodity exchange, for three years, an FMC release said.

The company was found to be misusing its membership of the Multi Commodity Exchange and National Multi Commodity Exchange to promote its illegal trading activities outside the exchange platform, thereby jeopardising not only the interests of the legitimate trade but also endangering the interests of its own clients, the release said.