In a filing to the BSE, MCX said: "Consequent to Corporation Bank divesting its entire stake in the company, Corporation Bank has withdrawn its nomination of P Paramasivam as a shareholder director on the Board. Accordingly, P Paramasivam ceases to be a Director."
The Corporation Bank has divested its 1.77 per cent stake in the bourse.
MCX offers futures trading in both agricultural and non-agricultural items. However its performance has taken a beating in the last few months due to declining trade volumes following imposition of commodity transaction tax and Rs 5,600 crore payment crisis at its sister concern NSEL.
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