Friday, November 29, 2013

5 things to know about new MCX chairman and former IAS Satyananda Mishra

Multi Commodity Exchange of India Limited (MCX) battling with a Rs 5,600-crore payment crisis in one of its group companies NSEL, has roped in former IAS of Madhya Pradesh cadre and ex-RTI chief Satyananda Mishra as its chairman. Many in the corridors were surprised by the move as unlike former IAS and ex-MCX director Ashok Jha, Mishra is not a corporate type. He does not know how to play golf, keeps a photo of his Guru at his chamber and speaks English with a thick Oriya accent. Here are five things you may like to know about new MCX boss Satyananda Mishra:1. So far as the government rules are concerned, Mishra is a moving encyclopaedia. That’s because this 1973 batch retired IAS of Madhya Pradesh cadre was with the government’s personnel department DoPT, first as its establishment officer and then as secretary.
2. It sounds odd in today’s context, but Mishra has been a highly non-controversial officer. When he was chosen as Chief Information Commissioner in December 2010 by a panel headed by Prime Minister Manmohan Singh, there was an instant unanimity. Leader of the Opposition Sushma Swaraj who was also a part of the selection panel gave her nod immediately.
3. In Central Information Commission, Mishra with two other commissioners were credited with pronouncing the landmark ruling to bring six national political parties including the Congress and the BJP under the RTI ambit. “It would be odd to argue that transparency is good for all State organs but not so good for political parties, which, in reality, control all the vital organs of the State,” the June 2013 order said.  It’s a different matter that all political parties got together against the order and passed a law to keep themselves out of the RTI ambit.
4. Mishra is a highly accessible officer, something which is true for most of the Madhya Pradesh and Chhattisgarh cadre IAS officers. Mishra even picks up his mobile unless he is in a very important meeting.
5. Originally hailing from Odisha, Mishra is soft-spoken and disciplined, and lives a spartan lifestyle. It’s a different matter that as CIC, he was allotted a posh bungalow in Lutyens’ Delhi in the neighborhood of Congress president Sonia Gandhi’s 10, Janpath address.


  1. When his name was announced? And what will be his role?

  2. Mr Mishra was appointed on November 27. Here is what Multi Commodity Exchange of India Ltd informed BSE.
    Board of Directors of the Company at its meeting held on November 27, 2013, inter alia, has
    1. Noted the appointment of Mr. Satyananda Mishra, (IAS Retd.), Ex-Chief Information Commissioner under sub clause 1.1 (ii) of the Revised Guidelines for constitution of the Board of Directors etc. dated August 12, 2013, as FMC Approved Independent Director on the Board of the Company, for a period up to March 31, 2016.

    2. Subject to FMC approval, noted and recommended the appointment of Mr. Miten Mehta as a Shareholder Director - Financial Technologies (India) Limited on the Board of the Exchange to FMC, effective date being the date of allotment of DIN, under clause 1.2 of the Revised FMC Guidelines read with modification of the Revised Guidelines dated September 13, 2013 w.r.t. class of shareholder director.

    Further, the Board has appointed Mr. Satyananda Mishra as the Chairman of the Board, subject to approval of FMC in terms of clause no. 1.4 of the Revised FMC Guidelines dated August 12, 2013.