MCX appoints former SEBI official Santosh Kumar Mohanty as Public Interest Director
Multi Commodity Exchange of India Limited has appointed former SEBI Whole Time Member Santosh Kumar Mohanty as a Public Interest Director on its Board for a term of three years effective May 28, 2026. The appointment follows SEBI approval and aims to bolster the exchange's governance with Mr. Mohanty's extensive regulatory experience.
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Multi Commodity Exchange of India Limited has strengthened its governance structure by appointing former Securities and Exchange Board of India (SEBI) Whole Time Member Santosh Kumar Mohanty as a Public Interest Director (PID) on its Board. The appointment is effective May 28, 2026, for a term of three years, following approval received from SEBI via a letter dated May 27, 2026. The Board of Directors approved the appointment in compliance with Regulation 24 of the Securities Contracts (Regulation) Regulations, 2018.
The addition of Mr. Mohanty brings significant regulatory expertise to the exchange. He is an Indian Revenue Service (IRS) officer of the 1991 batch and has served as a Commissioner of Income Tax. His tenure at SEBI spanned several years, including a five-year term as Whole Time Member from June 2018 to June 2023. Prior to this, he held the position of Executive Director at SEBI on deputation from September 2015 and served as a Director at the Forward Markets Commission for over two years.
During his time at SEBI, Mr. Mohanty supervised key departments including Corporate Finance, Market Regulation, Surveillance, and Investigation. He was instrumental in implementing major reforms such as the introduction of new products, institutional participation, and interoperability of Clearing Corporations. His work also encompassed reforms in the Issue and Listing of Debt Securities (ICDR) and Listing Obligations and Disclosure Requirements (LODR), focusing on corporate governance, Business Responsibility and Sustainability Reporting (BRSR), and Social Stock Exchanges.
Appointment Details
The company has disclosed that Mr. Mohanty is not related to any existing director of Multi Commodity Exchange of India Limited and is not debarred from holding the directorship by SEBI or any other authority. The appointment is part of a routine change in the directorate to ensure robust governance.
| Particulars | Details |
|---|---|
| Name of Director | Santosh Kumar Mohanty |
| Designation | Public Interest Director |
| DIN | 06690879 |
| Effective Date | May 28, 2026 |
| Term | Three years |
Mr. Mohanty holds a Bachelor's degree in Arts from Utkal University and a Master's degree in Politics from Jawaharlal Nehru University. He also holds an L.L.B. from Mumbai University and a Post Graduate Diploma in Securities Law from the same institution.
Historical Stock Returns for MCX
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.48% | +0.90% | -16.26% | +37.82% | +76.64% | +838.51% |
How will Mr. Mohanty's regulatory background influence MCX's strategy for launching new derivative products?
What impact will this appointment have on MCX's ability to navigate upcoming SEBI compliance and surveillance reforms?
Could this governance enhancement lead to increased institutional participation in the commodity derivatives market?
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