Key Resolutions
Resolution 1: Appointment of Mr. Sanjay Rajpal as Executive Director (Critical Operations)
- DIN: 00562023
- Designated as Key Management Personnel effective June 30, 2026
- Tenure: 5 years from date of joining, not liable to retire by rotation
- SEBI approval received on May 25, 2026
- Board approval on May 29, 2026
- Initially appointed as Additional Director w.e.f. June 30, 2026 under Section 161 of Companies Act, 2013
Resolution 2: Appointment of Mr. Manoj Jain as Executive Director (Regulatory, Compliance, Risk Management & Investor Grievances)
- DIN: 09694205
- Designated as Key Management Personnel effective June 1, 2026
- Tenure: 5 years from date of joining, not liable to retire by rotation
- SEBI approval received on May 27, 2026
- Board approval on May 29, 2026
- Initially appointed as Additional Director w.e.f. June 1, 2026 under Section 161 of Companies Act, 2013
Remuneration Details
Mr. Sanjay Rajpal (Executive Director - Critical Operations)
- Annual Fixed Pay: ₹2.52 crore (₹2,52,40,000)
- Gross Fixed Pay: ₹2.60 crore (₹2,60,20,737)
- Performance Linked Variable Pay: Up to 50% of total pay (₹91,07,258 at 35% of fixed pay)
- Total Annual Compensation: ₹3.51 crore (₹3,51,27,995)
- Breakdown: Basic Salary: ₹1.26 crore, HRA: ₹63.10 lakh, Special Allowance: ₹32.59 lakh, Statutory PF: ₹15.14 lakh, Car Entitlement: ₹4 lakh
- Variable pay structure: 50% paid after annual accounts approval, 50% deferred for 3 years, subject to malus and clawback provisions
Mr. Manoj Jain (Executive Director - Regulatory)
- Annual Fixed Pay: ₹1.47 crore (₹1,47,38,000)
- Gross Fixed Pay: ₹1.52 crore (₹1,52,00,556)
- Performance Linked Variable Pay: Up to 50% of total pay (₹53,20,195 at 35% of fixed pay)
- Total Annual Compensation: ₹2.05 crore (₹2,05,20,751)
- Breakdown: Basic Salary: ₹73.69 lakh, HRA: ₹36.84 lakh, Special Allowance: ₹17.02 lakh, Statutory PF: ₹8.84 lakh, Car Entitlement: ₹4 lakh
- Variable pay structure: 50% paid after annual accounts approval, 50% deferred for 3 years, subject to malus and clawback provisions
Appointment Process
Both appointments followed SEBI's Regulation 25A of SECC Regulations, 2018 requirements:
- Search agency Sheffield Haworth appointed for candidate shortlisting
- Open advertisements published in Times of India, Economic Times, Mint, and Business Standard on February 10, 2026
- Independent External Persons appointed to NRC for selection process
- Vidya Krishnan for Critical Operations role
- Santosh Kumar Mohanty for Regulatory role
- Multiple rounds of interviews by NRC and Board
Professional Background
Mr. Sanjay Rajpal
- 25+ years experience in technology leadership
- Former Head of Technology at Amazon, led global payments engineering
- Previous roles at Finastra, Reliance Jio, Yodlee, and Intuit
- Founder of Ryatech Software
- B.Tech from IIT Delhi
Mr. Manoj Jain
- 30 years capital markets experience
- Previously Chief Compliance Officer of MCX (since June 2025)
- Former COO of MCX (Nov 2021 - May 2025)
- Non-Independent Director of MCX Clearing Corporation Ltd
- Previous experience with Axis Bank, IL&FS Securities, Wipro, Dell Perot Systems, ICRA, and SEBI
- MBA from FMS Delhi, B.Tech from NIT Kurukshetra
Voting Process Details
- Cut-off Date: July 10, 2026
- Remote e-voting Period: July 16, 2026 (9:00 AM IST) to August 14, 2026 (5:00 PM IST)
- Service Provider: National Securities Depository Limited (NSDL)
- Scrutinizer: Vijay Yadav of M/s AVS & Associates (Membership No. F11990, COP No. 16806)
- Results Declaration: To be intimated to BSE and uploaded on company website post-scrutiny
- Notice sent only electronically to shareholders with registered email IDs
Additional Information
- Both directors hold no shares in the company
- No relationships with other directors or KMPs
- Mr. Jain will cease directorship at MCXCCL upon appointment of replacement
- Documents available for inspection at registered office during business hours