If one adds the total dividend payment of about Rs 26 crore (460%) by MCX
over the last few years, the total valuation comes to nearly Rs 700 crore.
In addition to NYSE Euronext, other shareholders in MCX
include: State Bank of India and its associates (SBI), National Bank for Agriculture and Rural Development (NABARD), National Stock Exchange of India Ltd.
The resignation comes weeks after sector regulator Forward Markets Commission issued notice to Shah and FTIL, which is the promoter of MCX
, the country's largest commodity exchange, as well as NSEL, to prove them being ' fit and proper' to manage the exchange.
Key shareholders of MCX
are Financial Technologies (India) Ltd.
Nearly ten days earlier, Rakesh Jhunjhunwala had purchased about two per cent in MCX
in INR 66 crore deal.
The approval from Sebi marks a culmination of a long- drawn legal battle by MCX
to kick- start stock trading as the regulator had delayed approval until it implemented regulations governing the ownership of exchanges
To fulfill the goals of the MCX
Partner Program, Microsoft has searched for those technology leaders that exhibit quality, innovation and vision in responding to consumer technology needs.
The market regulator, on the other hand, has overhauled the whole management to protect MCX
from the blow of the NSEL scam.
We look forward to working with industry leaders, including InFocus, on the MCX
program to create new ways to engage consumers about technology experiences," said Kate Carcelen, Product Manager, Microsoft's Consumer Strategy Team.
The FMC saw that FTIL was not fit to be the anchor stakeholder of any commodity exchange, and asked the listed entity to cut its stake in MCX
to 2 per cent.
THE SECURITIES and Exchange Board of India ( Sebi) has rejected the application of MCX
Stock Exchange Ltd ( MCX
- SX) seeking permission to deal in several segments, including equities trading, citing five distinct reasons, including concentration of economic interest in the exchange in the hands of two promoters.
will be Showcased at Microsoft MCX