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.

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.

Multi Commodity Exchange of India Limited has secured regulatory approval to appoint Mr. Sanjay Rajpal as Executive Director (Critical Operations) and Mr. Manoj Jain as Executive Director (Regulatory, Compliance, Risk Management & Investor Grievances). The appointments, effective from their respective joining dates, are for a term of five years and subject to ratification by the shareholders. This move strengthens the exchange's leadership in technology and regulatory compliance.

SEBI granted approval for Mr. Sanjay Rajpal's appointment via a letter dated May 25, 2026, while Mr. Manoj Jain received approval on May 27, 2026. The disclosure was made to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Neither appointee is related to any existing director of Multi Commodity Exchange of India Limited , nor are they debarred from holding the directorship by any regulatory order.

Mr. Sanjay Rajpal brings over 25 years of global experience in technology, currently serving as Head of Technology at Amazon. His expertise spans ecommerce, banking, financial services, and cloud computing. He has led AI-led payment ecosystems and built Generative AI solutions to enhance customer experience. Previously, he held leadership roles at Finastra, Reliance Jio, Yodlee, and Intuit, and is an alumnus of IIT Delhi.

Mr. Manoj Jain is a capital markets professional with 30 years of experience in regulatory compliance and risk management. He currently serves as the Chief Compliance Officer at Multi Commodity Exchange of India Limited, a role he has held since June 2025. Prior to this, he was the Chief Operating Officer from November 2021 to May 2025 and began his career at SEBI. He holds an MBA from FMS, University of Delhi, and a B.Tech from NIT Kurukshetra.

Appointment Details