MCX to file fresh prospectus

The Multi Commodity Exchange (MCX) would file a fresh red herring prospectus for its initial public offering as the current deadline for getting a regulatory approval would expire on Monday.

Lamon Rutten, joint managing director. MCX, said, "The Reserve Bank of India (RBI) has sought some clarifications from the finance ministry on FII investments in commodity exchanges." He was speaking at the sidelines of a seminar in Mumbai on Friday.

With electronic trading system in place, commodity exchanges, under demutulisation, automatically fall under the category of institutions which can raise money without taking additional permission from authorities like RBI.

Rutten hoped the RBI would take a liberal approach on the issue.