The Companies Act required the clearing corporation to seek shareholder approval for the appointment at its very next AGM or EGM, but it had failed to do so. The appointment was subsequently approved by shareholders. But the violation still stands.from Moneycontrol Commodity News https://www.moneycontrol.com/news/commodities/two-years-on-mcxccl-plans-to-approach-ministrycorporate-affairs-to-fix-violationmd-narendra-ahlawat’s-appointment_14201821.html
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