Circular No.: MCX/T&S/032/2012 January 24, 2012
This is to bring to the notice of all members that the Forward Markets Commission (FMC) has passed Orders dated January 20, 2012 against the following members:
1. Shresth Commodities & Financial Services Pvt Ltd.
(i)M/s Shresth Commodities & Financial Services Pvt. Ltd, a member of the Commodity Derivative Exchange(s) viz MCX, NCDEX and ICEX is hereby suspended from its membership of the above Commodity Derivative Exchange(s) for a period of six months from the date of this Order.
(ii) Shri Subhash Jain, Director of M/s Shresth Commodities & Financial Services Pvt Ltd is hereby prohibited from entering into any forward contract for sale or purchase in his own name or through another member of recognised associations of any goods or class of goods.
2. Vinod Commodities Ltd .
(i) M/s Vinod Commodities Ltd, a member of the Commodity Derivative Exchange(s) viz MCX, NCDEX and ACEL is hereby suspended from its membership of the above Commodity Derivative Exchange(s) for a period of one year from the date of this Order.
(ii) Shri Vinod Singhvi, Director of M/s. Vinod Commodities Ltd is hereby prohibited from entering into any forward contract for sale or purchase in his own name or through another member of recognised associations of any goods or class of goods.
All the members are advised to take a note of the above Order of the Commission and ensure strict compliance thereof.
M.Ramalingam
Vice President – Market Operations
Kindly contact Customer Support Team on 022 – 6649 4040 or send an email at customersupport@mcxindia.com for further clarification.
