CWC nominee G N Nair joins as NMCE Director

Ahmedabad, May 19 (UNI) The Board of Directors of the National Multi-Commodity Exchange (NMCE), at its meeting here, today approved the appointment of Mr G N Nair, Director (Finance), Central Warehousing Corporation (CWC), as the new Director of the exchange to represent CWC.

As Principal Advisor to the Managing Director of CWC, Mr Nair, looks after all financial and other matters of the blue-chip undertaking, an NMCE release said here.

Mr Nair has done specialization in e-procurement. He has about 30 years' industry experience in several organizations, including Hindustan Latex, Keltron, Trivendrum Rubber Works and Kerala State Detergents&Chemicals.

The Board earlier accepted the resignation of Mr. Ajay Khera as the CWC's nominated Director.

The Board has also approved renewal of Mr Rajnikant Patel, Managing Director of Bombay Stock Exchange (BSE), as the Professional Director of NMCE.

BSE has recently signed an MoU with NMCE for an Investment cum Shareholders' Agreement to pick up 26 per cent stake in NMCE, infusing fresh equity.

Reiterating BSE's commitment to NMCE as a strategic partner, Mr.

Patel had said that post-completion, BSE would motivate the large number of its brokers and sub-brokers to undertake commodities futures trading on NMCE and assist the company in technology upgradation and professionalism, the release added.

UNI MP OBB SKB1903