(From left to right) Shri Wajahat Habibullah - IAS - Secretary to the Ministry of Consumer Affairs Food and Public Distribution, Shri Hemant Kajarekar - Financial Advisor - NMCE, Shri Kailash Gupta - M.D. - NMCE.

(From left to right) Dr. Ajay Shah - Consultant to Ministry of Finance, Shri Wajahat Habibullah - IAS - Secretary to the Ministry of Consumer Affairs Food and Public Distribution, Shri Kailash Gupta - M.D. - NMCE, Dr. Kalyan Raipuria - IES - Sr. Economic Advisor, Shri N. Nagendra Parakh - CGM - SEBI and Dr. Kewal Ram - IES - Chairman - FMC.

(From left to right) Dr. Ajay Shah - Consultant to Ministry of Finance, Shri Wajahat Habibullah - IAS - Secretary to the Ministry of Consumer Affairs Food and Public Distribution, Shri Hemant Kajarekar - Financial Advisor - NMCE, Shri. Kailash Gupta - M.D. - NMCE , Dr. Kalyan Raipuria - IES - Sr. Economic Advisor.

Task Force on convergence of two markets viz Commodity Futures and Equity Derivatives Under the Chairmanship of Mr. Wajahat Habibullah, IAS, Secretary, to the Government with its members Dr. Kewal Ram, IES, Chairman.  Forward Markets Commission, Dr. Ajay Shah, Consultant to Ministry of Finance, Dr. Kalyan Raipuria, IES, Senior Economic Advisors, and Mr. N. Nagendra Parakh, Chief General Manager, SEBI visited the Exchange on August 25th to examine the operations.

The Task Force expressed its satisfaction and appreciated the evolution of trading facilities for commodities such as Pepper and Rubber being traded by thousands of clients and intermediaries sitting in Kerala on NMCE platform in Ahmedabad.  The Task Force was particularly impressed by the successful and smooth settlements carried out in the last few months thru Warehouse Receipts issued by Central Warehousing Corporation, and in full compliance of all taxation laws.  NMCE system facilitates uninterrupted and efficient settlement, which ensures that whenever the risk management system gets triggered, the collaterals (WRs) of the defaulter are saleable immediately at a price that cannot be questioned.