Jignesh Shah, Vice-Chairman and Shareholder Director of the MCX-SX, and Joseph Massey, Managing Director and CEO, have resigned from the board of the exchange.
According to a press release, market regulator SEBI has nominated Thomas Mathew, a former Chairman of LIC, as Public Interest Director of the exchange.
As an interim arrangement, U. Venkataraman, Whole-time Director, will assist a Special Committee of Public Interest Directors in carrying out the functions of the exchange.
Joseph Massey had earlier not offered himself for reappointment on the MCX board. The resignations come on the heels of their interrogation by the Economic Offences Wing of the Mumbai police.