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  • Who is Arun Raste – The New MD & CEO of NCDEX

    On 26 April 2021, the Securities and Exchange Board of India (SEBI) has approved an appointment of the new Managing Director and CEO of the National Commodity and Derivatives Exchange Ltd (NCDEX). The new Managing Director and CEO of National Commodity and Derivatives Exchange Ltd is Arun Raste. Let’s look at who is Arun Raste, the new MD and CEO of NCDEX.

    Who is Arun Raste
    Education of Arun Raste
    Seminars
    What is NCDEX
    FAQ

    Who is Arun Raste

    Arun Raste is currently working as the Executive Director of the National Dairy Development Board (NDDB) of India. He is also serving as the director on the board of Indian Immunological Limited which is based in Hyderabad and also the director on the board of Mother Dairy Fruit Vegetable Pvt Ltd. Which is based in Delhi.

    He had earlier worked with companies such as Kotak Mahindra Bank, IDFC Bank, ACC Cement, NABARD and also a non-profit NGO IRFT.

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    StartupTalkyAlan Joseph

    Education of Arun Raste

    He has done a bachelor’s degree in economics and also a master’s degree in economics. He also holds a post-graduation diploma in marketing management.

    He has an interest in the areas such as BoP finance, Business Strategy, CSR, marketing, Corporate Planning and NGO management.

    Seminars

    He was invited by the United States State Department for ‘The International Visitor Leadership programme’(IVLP). He has also been part of various conferences and seminars which include the ones at UNCTAD, World Social Forum, IFAT Conference, WTO ministerial, Toyo University Tokyo, Kindai University Nara Japan, PSE Group in European Parliament, Murdoch University Perth Australia, and so on.

    He has also published various research papers in National and International Journals.

    Now he has been appointed as the Managing Director and CEO of National Commodity and Derivatives Exchange (NCDEX) for a period of 5 years.

    What is NCDEX

    National Commodity and Derivative Exchange is a commodity exchange platform in India. It is an online commodity exchange platform that provides the market participants a platform to trade in commodities and derivatives.

    NCDEX was founded in the year 2003 and has its headquarters located in Mumbai, India. NCDEX is a public limited company that is fully owned by the Government of India. NCDEX has offices in other places which include Delhi, Hyderabad, Jaipur, Kolkata, Indore and Ahmedabad.

    What is NCDEX
    What is NCDEX

    NCDEX is an leading agricultural commodity exchange in India. It offers value chain services for the entire post-harvest agricultural commodities.

    Some of the key investors of NCDEX include National Stock Exchange of India Ltd, National Bank for Agriculture and Rural Development, Life Insurance Corporation of India, Oman India Joint Investment Fund, Investcorp Private Equity Fund, Build India Capital Advisors LLP, Indian Farmers Fertilizer, Cooperative Ltd, Punjab National Bank and Canara Bank.

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    StartupTalkyPratiksha Bajikar

    FAQ

    What is MCX and Ncdex?

    NCDEX is predominantly an exchange with leadership in the agri commodity segments, while MCX has leadership in the area of gold, metals and oil.

    Where is Ncdex located?

    NCDEX headquarters are located in Mumbai and offers facilities to its members from the centres located throughout India.

    What is full form Ncdex?

    National Commodity & Derivatives Exchange Limited is full form of NCDEX.

    Conclusion

    Earlier in this month Vijay Kumar who was the former Managing Director and the CEO of NCDEX had left the position from the exchange after the completion of his extended term. Later, SEBI had appointed Arun Raste as the new CEO and MD of NCDEX.

  • SEBI Likely to Ease the Startup Listing Process

    Capital markets regulator the Securities and Exchange Board of India (SEBI) is considering accommodate various flexible proposals to moderate the listing of startups in the stock exchanges in the country. This will encourage domestic startups to go public.

    Institutional Trading Platform(ITP) was put in place for amendments to SEBI Regulations in August 2015. As the framework failed to gain interest, the discussion paper was put in place to enhance interest amongst startups in July 2016 . However, due to loose market interest, amendment to the ICDR Regulations was not made.

    In June 2018, SEBI formed a group with stakeholders to review ITP framework and identify areas which require further changes. Yet, the threshold norms for getting securities or shares listed was still very high. Thus, under normal condition for startup companies to list their securities was remotely achievable. Yet, the ITP did not gain the buzz it was expected when it was launched.

    Considering this and potential of startups, on December 12, 2018, SEBI in its board meeting cleared the proposition for providing easy listing norms in cases of startups which are into intensive use of technology, information technology, intellectual property, data analytics, biotechnology, nano-technology and which add value to the product and services.

    If this supposed move is implemented, it would facilitate entrepreneurs to class themselves as ordinary shareholders and relieve them of the mandatory three-year lock-in clause.  

    Also Read: Common Problems Entrepreneurs Face and The Truth About Startup Life

    Also, if a Private equity firm is being reviewed as promoters of a company, eventually it will pull in a lot of fiduciary responsibilities and disclosure requirements. Besides, they will also be subjected to SEBI’s insider trading rules. Hence, the market controller might consider exempting promoters of their fiduciary responsibilities and permitting PE backers enough stakes in a firm to release them as promoters.

    Due to the rigid IPO rules like one year locked in for pre-IPO investors after listing, three years of lock in period of 20% of promoters’ shares and requirement of onerous consideration for delisting itself as a promoter, Indian startups take the acquisition path for its departure.

    Sandeep Parekh, founder, Finsec Law Advisors commenting on the possible amend said

    Relaxing the promoter reclassification norms would be a move in the right direction as it would provide more flexibility to startups planning to list. These companies operate with completely different business models and hence need more lenient regulations. In order to mitigate risk of lenient regulations, the regulator could keep trading in these companies confined to wealthy investors and institutions.

    Earlier this year, National Stock Exchange (NSE) was reportedly in a dialogue with SEBI to relax startup listing norms on its platform Emerge ITP, a regulated platform connecting growing ventures with potential investors with or without IPO.

    Also Read: How Different Sectors will Resume their Operations after Lockdown?

    Additionally, in a bid to bolster angel funding in the home grown startups,the SEBI board has approved the modification of the Alternative Investment Fund (AIF) for doubling the maximum investment limit.