You are here: Home » Markets » Commodities » Other Commodities
Business Standard

MCX shortlists 20 for MD's post

Applicants include Saurabh Sarkar MD of MCX-SX among others

BS Reporter  |  Mumbai 

The Multi Commodities Exchange (MCX) has shortlisted 20 candidates out of 50 applications for the post of the managing director (MD).

Saurabh Sarkar, MD of MCX-SX; Roopa Devi Singh, an executive at an exchange; and Narendra Gupta, former senior executive of National Commodities and Derivatives Exchange of India, are also understood to have applied.

A spokesperson of the MCX-SX has denied the report about Sarkar saying, “He has not applied for the post.”

The MCX has to appoint an MD in less than six months. Shreekant Javalgekar resigned in October. Manoj Vaish, who was appointed MD in February after his resignation this year, had resigned in end-April. P K Singhal, a senior executive of the exchange, is looking after the affairs of the MCX. Though he has been offered the position of MD twice, he refused to accept it.

Rajnikant Patel, former MD of the BSE, said, “The MCX needs an experienced and mature person having domain expertise to help the exchange tide over the present situation. If suitably senior and experienced candidates are not available through the advertisement route, it may evaluate internal candidates and also consider inviting industry experts. The exchange is going through challenging times and the CEO will have to manage transformation on multiple fronts.”

But the selection might take place after a week or two, when the selection committee meets. Observers said the panel had no proper representation of significant shareholders.

An MCX spokesperson said, “We are in the process of appointing an MD and chief executive and are hopeful of completing it in the time frame. To maintain the confidentiality and sanctity of the process, we cannot share the names of those who have applied. We do not comment on market speculation.”

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, July 07 2014. 22:32 IST