Anonymous letter prompts ICEX board to order a forensic audit

A copy of the letter, which alleges misuse of liquidity incentives scheme, was also senr to Sebi

The board of the Reliance ADAG-anchored Indian Commodity Exchange (ICEX) has ordered a forensic probe after an unsigned letter to it alleged the exchange’s top management misused the Liquidity Enhancement Scheme (LES), according to people in the know. The same letter has also been forwarded to markets regulator, the Securities and Exchange Board of India (Sebi).

Under the LES, the exchange was allowed to give financial incentives to those who helped increase liquidity in illiquid contracts. 

The sources said the board, via video conferencing on Monday,