G. K. Pillai appointed as the Chairman of MCX-SX.
Former Union Home Secretary G.K. Pillai on November 1, 2013 was appointed as the Chairman of the MCX-SX (MCX Stock Exchange Limited). Thomas Mathew T, the former acting chairman of the Life Insurance Corporation (LIC) has also been appointed as the Vice President of the bourse.
MCX-SX is a new stock exchange of India and is recognized by the Securities and Exchange Board of India (SEBI) under Section 4 of Securities Contracts (Regulation) Act, 1956. MCX-SX became the recognized stock exchange by the Union Ministry of Corporate Affairs on 21 December 2012, under Section 2(39) of the Companies Act, 1956.
The appointments were cleared by the board of directors on 24 October 2013 and have been also cleared by the Securities and Exchange Board of India (SEBI). In October 2013, SEBI had also renewed the license of the exchange after extensively exam the same.