The three former directors of Multi-Commodity Exchange and a director of Financial Technologies will get to cross examine Grant Thornton, which conducted the forensic audit on the embattled National Spot Exchange, on Tuesday.
The audit firm was supposed to be cross examined on last Tuesday, but it sought two-weeks’ time. However, the commodity market regulator Forward Markets Commission had granted time of seven days. The Commission had issued show-cause notice to ascertain their fit and proper criteria of Jignesh Shah (promoter), Joseph Massey (former director), Shreekant Javalgekar (former Managing Director) and Financial Technologies (parent of National Spot Exchange) following the Rs 5,600-crore settlement crisis at the group’s subsidiary NSEL. Responding to the show-cause all the four members have sought permission to cross examine the audit firm.