Kotak Mahindra Bank on Thursday announced the withdrawal, for the time being, of the nomination of Paul Parambi to the board of directors of Multi Commodity Exchange.
Kotak Mahindra Bank is the single largest shareholder, with 15 per cent equity that it purchased at Rs 600 a share from Financial Technologies in July last year. It had nominated Paul's name for the board seat a few months ago but did not get regulatory approval from the Forward Markets Commission.
