Two-independent directors nominated on MCX's board

MUMBAI: Forward Market Commission (FMC) announced that it nominated two-independent directors on the board of Multi Commodity Exchange of India Ltd (MCX).

An official statement from the commodity exchange said, “FMC has nominated Ravi Kamal Bhargava and Prakash Apte as independent directors on the board of the company for a period up to March 31, 2015.”

In the past, State Bank of India (SBI) withdrew the nomination of its director on the board of the commodity bourse.

The withdrawal came since SBI divested its complete 4.14% stake in MCX via the Open Public Offer (IPO) unveiled in February.