MCX says CEO Javalgekar submits resignation

Reuters

Sat, Oct 19, 2013, 4:35 AM

MUMBAI (Reuters) - The Multi Commodity Exchange of India Ltd (MCEI.BO) said on Saturday its managing director and chief executive officer, Shreekant Javalgekar, had submitted his resignation from the company, in which Financial Technologies(NSI:FINANTECH.NS - News) holds a 26 percent stake.

It did not specify a reason for the resignation in a statement.

Financial Technologies also owns National Spot Exchange Ltd (NSEL). The NSEL has been under investigation by police since last month after India's commodities regulator ordered it to suspend trading over suspected violations of rules on contract duration.

The MCX board will meet on Tuesday to discuss the appointment of a new CEO, its spokesman said.

(Reporting by Himank Sharma, Siddesh Mayenkar and Aradhana Aravindan in MUMBAI; Editing by Ron Popeski)

Don't buy the dip in stocks just yet as a wave of selling is about to bring the market to a bottom, according to one of the biggest bulls on Wall Street
The S&P 500 could bottom out in the next month, according to Fundstrat's head of research Tom Lee.
Business Insider•13h ago
Time to Pounce: 2 Superb Utility Stocks That Haven't Been This Cheap in at Least 10 Years
One of the fastest-growing utility stocks, along with "Wall Street's Greatest Dividend Stock," make for phenomenal buys right now.
Motley Fool•4h ago
The Headache at the End of the Costco Gold Rush
Costco made buying a gold bar as simple as tossing it in a shopping cart. Adam Xi, 33 years old, called five different dealers to get a price he could accept for the gold bar he bought at Costco in October. Costco shoppers are spending as much as $200 million monthly on gold, according to a Wells Fargo estimate.
The Wall Street Journal•2h ago
Trump Media stock jumps for second day as company goes to battle with short sellers
Trump Media is advising investors on ways to prevent their shares from being loaned for a short-interest position.
Yahoo Finance•20h ago
Tesla's EV success made it 'Magnificent.' It could also be its downfall.
Tesla's growth story was about leading the paradigm shift to EVs, and an affordable car was a part of that story. Now without it, the narrative has changed.
Yahoo Finance•4h ago
Prediction: This Artificial Intelligence (AI) Stock Could Be Worth More Than Microsoft 5 Years From Now
Microsoft has been one of the pioneers in the field of AI, but this tech giant is also set to win big time from the growing adoption of this technology.
Motley Fool•33m ago
2 Popular Artificial Intelligence (AI) Stocks to Sell Before They Drop 29% and 77%, According to Certain Wall Street Analysts
Certain Wall Street analysts see substantial downside for shareholders of Tesla and Palantir Technologies.
Motley Fool•5h ago
Here's What the Average Senior Couple Collects in Social Security Today
The number may be smaller than expected.
Motley Fool•4h ago
Jamie Dimon Knew Subprime 'Could Go Up In Smoke'; Now He's Worried About An Artificial Economy 'Fueled by Government Deficit Spending'
In the chaos of the 2008 recession, perhaps no bank stood more prepared than Jamie Dimon's J.P Morgan Chase & Co. (NYSE:JPM). In advance of the crisis, Jamie Dimon realized that "underwriting standards were deteriorating across the industry," with late payments on subprime loans rising. In late 2006, the bank led his firm to exit Wall Street's hot subprime business, starting with a frantic call made to J.P. Morgan's vacationing Chief of Securitized Products where he said, "I really want you to w
Benzinga•23h ago
Netflix reports strong subscriber gains, but Q2 revenue forecast disappoints
Netflix reported first quarter earnings after the bell on Thursday. Here's what to know.
Yahoo Finance•1h ago

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

MCX says CEO Javalgekar submits resignation

Recommended Stories

Don't buy the dip in stocks just yet as a wave of selling is about to bring the market to a bottom, according to one of the biggest bulls on Wall Street

Time to Pounce: 2 Superb Utility Stocks That Haven't Been This Cheap in at Least 10 Years

The Headache at the End of the Costco Gold Rush

Trump Media stock jumps for second day as company goes to battle with short sellers

Tesla's EV success made it 'Magnificent.' It could also be its downfall.

Prediction: This Artificial Intelligence (AI) Stock Could Be Worth More Than Microsoft 5 Years From Now

2 Popular Artificial Intelligence (AI) Stocks to Sell Before They Drop 29% and 77%, According to Certain Wall Street Analysts

Here's What the Average Senior Couple Collects in Social Security Today

Jamie Dimon Knew Subprime 'Could Go Up In Smoke'; Now He's Worried About An Artificial Economy 'Fueled by Government Deficit Spending'

Netflix reports strong subscriber gains, but Q2 revenue forecast disappoints