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FMC accuses former NMCE chief of fraud
The Forward Markets Commission (FMC) on Tuesday said it had found Kailash Gupta, founder and vice-chairman of National Multi Commodity Exchange (NMCE) guilty of defrauding the exchange and abusing his position to favour his family-run companies.
Updated on: Aug 2, 2011, 22:44:10 IST
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The Forward Markets Commission (FMC) on Tuesday said it had found Kailash Gupta, founder and vice-chairman of National Multi Commodity Exchange (NMCE) guilty of defrauding the exchange and abusing his position to favour his family-run companies.
“The matter is sub-judice and hence I would not be able to comment on the issue,” said Gupta.
The regulator has also asked NMCE to immediately file a criminal case against Gupta, who has previously served as its chief executive officer and managing director.
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