Indian Commodity Exchange (ICEX)

indian-commodity-exchange-icex

New Delhi, Markets regulator Sebi on Thursday said it has withdrawn the recognition granted to the Indian Commodity Exchange Limited (ICEX). The Securities and Exchange Board of India has withdrawn the recognition granted to the Indian Commodity Exchange Limited, vide notification dated May 18, 2022, according to a press release issued by the regulator.

The report contains audited the financial statements of icex which comprise the Balance Sheet as at March 31, 2022, and the Statement of Profit and Loss including Other Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended, and notes to the financial statements, including a summary of significant.

Indian Commodity Exchange  (ICEX) might out from the commodity exchange 

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Dear Shareholders, Financial Year 2020-21 was an extraordinary year by any measure. It was a year of a global pandemic, a global recession and tough regulatory measures. The management, considering the present liquidity situation and availability of funds is working on a detailed business plan addressing both the short-term constraints and future growth opportunities. In line with our plans, the Board is proposing the following: 1. Short Term Focus: i. Augmentation of liquidity through release of Rs 50 crore capital from release of Settlement Guarantee Fund (SGF). Management at the instruction of the Board to approach SEBI for the same.  ii. Focus on immediate and capital efficient opportunity of mutual fund transactions. This will ensure optimal utilization of limited capital in the short term and improvement in profitability. iii. Further strengthening the Board and processes 2. Long Term Focus:  i. Capital raising and renewed focus on commodities along with mutual fund transactions.  The team is presently working on detailed roadmap for future profitability and sustainable growth. We propose to discuss the same with all the shareholders in the forthcoming AGM scheduled on November 30, 2021 (next Tuesday). The detailed agenda paper has been circulated to all the shareholders on November 08, 2021. Thanking You, Sd/- Sanjit Prasad MD & CEO Indian Commodity Exchange Limited

The financial results of the Company for the quarter and year ended March 31, 2021 have been reviewed and recommended by the Audit Committee and subsequently approved by the Board of Directors at its meeting held on July 30, 2021.

Name of Shareholder	Holdings
RELIANCE EXCHANGENEXT LIMITED	16.33 %
CENTRAL WAREHOUSING CORPORATION	11.05 %
DEPUTY DIRECTOR (PMLA) DIRECTORATE OF ENFORCEMENT	9.04 %
MMTC LIMITED	6 %
OTHER	57.58 %

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