Former IAS officer Ramaseshan appointed NCDEX CEO

Mumbai, Apr 26 (UNI) The National Commodity and Derivatives Exchange Limited (NCDEX) today appointed R Ramaseshan as its Chief Executive Officer and Managing Director for a three-year-term in place of P H Ravikumar, who is retiring on April 29.

The NCDEX board in its meeting here also appointed Mr Ramaseshan and IFFCO Finance Director Rakesh Kapur as its additional directors, a company release here said, adding that with these appointments, the board would now have 15 directors.

Mr Ramaseshan earlier belonged to the Karnataka Cadre of the Indian Administrative Services. He has also served as the Regional Head of National Stock Exchange of India Limited in New Delhi from 1996 to 1998.

Mr Kapur has been nominated by IFFCO in the place of Dr U S Awasthi, as he had sought resignation from the directorship of NCDEX in view of his growing responsibilities in IFFCO as its Managing Director. Mr Kapur is currently the Finance Director of IFFCO which holds 12 per cent share in the equity share capital of Rs 30 crores of NCDEX.

He is also the Managing Director of IFFCO Kisan Sanchar Limited and IFFCO Kisan SEZ Limited. He belonged to the 1978 batch of Indian Revenue Service and took voluntary retirement in October 2005 NCDEX is an online national level commodity exchange established in 2003. It offers futures trading in 55 commodities in agriculture, energy, metals, plastics and carbon credits.

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