08.02.2013 - India: FMC asks 3 commexes to explain net worth fall
The Forward Markets Commission (FMC) has summoned executives of three commodity exchanges to explain the fall in their net worth to levels below the statutory requirement of Rs 100 crore. Next week, FMC would meet executives from Reliance Group-controlled Indian Commodity Exchange (ICEX), Kotak Group-anchored Ace Derivatives & Commodity Exchange (Ace) and Ahmedabad-based National Multi Commodity Exchange (NMCE). It is likely the exchanges would seek time to meet the mandatory net worth criterion...............................................Full Article: Source
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