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FMC unhappy at NCDEX pact with anchor-investor
The Forward Markets Commission (FMC), the commodity derivatives markets regulator, wants the National Commodity & Derivatives Exchange (NCDEX) to remove the Gaurav Arora-promoted Jaypee Capital Services Ltd (JC) as anchor-investor. Jaypee has 22.38 per cent stake in NCDEX, India’s second largest agri-centric futures exchange.
JC was inducted as anchor investor on NCDEX on October 7, 2010, and
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