Metropolitan Stock Exchange Shares Annual Reports

Metropolitan Stock Exchange Shares

The Metropolitan Stock Exchange of India Limited (MSE) will hold its 16th Annual General Meeting (AGM) on December 19th, 2024, through video conferencing to address several key business matters. **Ordinary Business:** * **Adoption of Financial Statements:** Shareholders will review and adopt the audited financial statements, including consolidated statements, for the fiscal year ending March 31, 2024. This also includes the reports from the Board of Directors and the auditors. * **Re-Appointment of Non-Independent Director:** Mr. Manoj Kunkalienkar (DIN: 00019200), who is a Non-Independent Director retiring by rotation, is offering himself for re-appointment, subject to SEBI approval. * **Appointment of Auditors:** M/s R Kabra & Co LLP, Chartered Accountants (FRN: 104502W/W100721) are proposed to be appointed as the Statutory Auditors for a five-year term, concluding at the 21st AGM. Their remuneration and out-of-pocket expenses will be mutually agreed upon with the Board of Directors. * **Appointment of Independent Director:** Mr. Ashok Kumar Dogra (DIN: 07074297) is proposed for appointment as a (Independent Director) Public Interest Director w.e.f. January 16, 2024 for 3 consecutive years commencing from January 16, 2024 upto January 15, 2027, not liable to retire by rotation, and who meets the criteria for independence as provided in Section 149(6) of the Act. **Special Business:** The notice includes an Explanatory Statement detailing the items of business to be transacted at the AGM, and outlines procedures for participation, e-voting, raising questions, and more, emphasizing remote e-voting and e-voting during the AGM, with NSDL providing the e-voting facility. **Key Notes and Procedures:** * Physical attendance is not required. Members can attend via video conferencing (VC) or other audio-visual means (OAVM). * The facility to appoint a proxy is not available for this AGM. Body corporates may appoint authorized representatives. * Members can join the AGM VC/OAVM mode 15 minutes before and after the scheduled time, with limited slots (first come, first served, but with exceptions). * Attendance through VC/OAVM will count towards quorum. * Remote e-voting is available. The company has an agreement with NSDL for facilitating e-voting. * The AGM proceedings will be deemed to be conducted at the Registered Office. * Members are encouraged to register their email addresses with their DP. * SEBI has mandated PAN submission. * Nomination facility is available. * Members can express their views during the AGM. * The remote e-voting period is defined, and the process for remote e-voting and e-voting during the AGM is detailed, including login methods for various types of shareholders (demat with NSDL/CDSL, physical). * Instructions for attending the AGM through VC/OAVM and remote E-Voting are provided. * Mr. Ramakant Kini is appointed as the scrutineer. Voting results will be displayed on the company website and NSDL website. **Explanatory Statement Highlights:** * SEBI approved the appointment of Mr. Ashok Kumar Dogra as Public Interest Director of the Exchange * The Board of Directors recommends the Resolution for his appointment as an Independent Director. * None of the Directors are concerned or interested financially with this resolution except Mr. Dogra. The notice also includes details of the directors seeking appointment or re-appointment at the AGM as per regulatory guidelines. The date of birth, experience, qualification and expertise in various areas of function are detailed.

Metropolitan Stock Exchange Shares

Okay, here is a comprehensive summary of the provided PDF document. **Summary of Metropolitan Stock Exchange of India Limited Notice and Annual Report** **1. Notice of 15th Annual General Meeting (AGM)** * **Date, Time, and Format:** The 15th AGM of the Shareholders of Metropolitan Stock Exchange of India Limited ("MSE") will be held on Wednesday, December 20, 2023, at 02:00 p.m. (IST) through Video Conferencing (“VC”)/ Other Audio-Visual Means (“OAVM”). * **Ordinary Business:** Adoption of Financial Statements for the Financial Year ended March 31, 2023, including Audited Consolidated Financial Statements and Reports of Directors and Auditors. * **Special Business:** * Appointment of Mr. Manoj Kunkalienkar (DIN: 00019200) as a Non-Independent Director. * Appointment of Mr. Dinesh C Patwari (DIN: 10060352) as an Independent Director (Public Interest Director) & Chairman of the Company, effective May 22, 2023, for three years (May 22, 2023 upto May 21, 2026). * Appointment of Mr. Rakesh Kumar Srivastava (DIN: 08896124) as an Independent Director (Public Interest Director) of the Company effective November 18, 2023, for three years (November 18, 2023 upto November 17, 2026). * **E-Voting:** Information regarding remote e-voting and e-voting procedures during the AGM, including cut-off date (Wednesday, December 13, 2023), timelines for remote e-voting (December 17-19, 2023), and procedures for joining the meeting via VC/OAVM are provided. Explanatory statements concerning the special resolutions are annexed. Members can register as speakers to raise questions by December 14, 2023. * **Other Important Information:** * The facility for appointing proxies will not be available, and proxy forms are not annexed. * The proceedings of the AGM shall be deemed to be conducted at the Registered Office. * Annual Reports are sent via email; copies are on the company website and through the NSDL. * Corporate/Institutional members must send a resolution authorizing their representative. * Securities must be held in Demat mode, and members should register their email addresses with their DP. * M/s. T. R. Chadha & Co., LLP is the Statutory Auditor. * The Register of Directors' and Key Managerial Personnel and their shareholding will be available for electronic inspection. * The term "Members" denotes Shareholders. * Audited Accounts are available on the Company website. **2. Annual Report 2022-23 Highlights** * **Corporate Information:** * **Board of Directors:** Includes Mr. Dinesh C Patwari (Chairman & Public Interest Director), Ms. Trishna Guha (Public Interest Director), Ms. Latika S. Kundu (Managing Director & CEO), Mr. Rakesh Kumar Srivastava (Public Interest Director). * Mr. Saket Bhansali is the Chief Financial Officer, and Mr. Dugesh Kadam is the Company Secretary. * T. R. Chadha & Co. LLP are the Statutory Auditors, and Mittal and Associates are the Internal Auditors. * **MD & CEO's Desk:** The MD & CEO's message expresses dedication to strengthen the foundation of Exchange, technology, product development and innovation, and awareness about the capital markets. MSE is committed to developing resilient systems for the inclusive growth of Capital Markets in India. The Company held the first ever MSE Investor Expo as a part of initiative during the Opening Bell Ceremony in 2023. * **Board's Report:** * Total Revenue increased to Rs. 2,984 Lakhs, and Operating Revenue increased to Rs. 755 Lakhs. * Total Expenses increased to Rs. 4,770 Lakhs. * Net Loss is (1,997) Lakhs. * The company is focusing on technology and digital transformation. * **Products and Services:** * Currency Derivatives (Futures, Options, Cross Currency). * Equity Capital Market (Shares, Sovereign Gold Bonds, ETFs, OFS). * Equity Derivatives (Stock Futures, Stock Options, Index Futures, Index Options). * The company has a Technology Enablement Program for Members. * New functionalities have been introduced in TWS and MAT. * Cross Currency Revised Close Timings and Change in market timings for Interest Rate Futures has been announced. * T+1 settlement cycle has been implemented and Standardisation of file formats for MII-Member Interface – ISO Tags. * **Membership:** * There are Currency Derivatives Members: 488 * There are Equity Cash members: 303 * There are Equity Futures & Options: 284 * **Subsidiaries:** MSE Enterprises Limited, (Formerly known as Metropolitan Clearing Corporation of India Limited) ("MEL”) license has been surrendered and MSE Fintech Limited. * **Other key points:** * Authorized Share Capital is Rs. 550,00,00,000; Paid-up Share Capital is Rs. 481,02,17,033. * No new shares have been issued. * The Board does not recommend any dividend. * Employees stock option scheme have been implemented. * The Company has formulated Policy on Related Party Transactions (RPT). * Independent Directors have given declarations of meeting independence criteria. * There were 16 Board meetings held during the year. * Risk Management is a critical element. * AOC-1 is attached to the financial statements. * **Financials** * Mr. Ramakant Kini has been appointed as the Scrutinizer. * The company provided key details for the Annual General Meeting. * The details of key managerial personnel, and the explanatory statement on section 102 are given. This summary provides a comprehensive overview of the key aspects discussed in the PDF document while adhering to all the given constraints and core objectives.

Metropolitan Stock Exchange Shares

The Metropolitan Stock Exchange of India Limited (MSE) held its 14th Annual General Meeting on December 1, 2022, via video conferencing. The meeting addressed the adoption of audited financial statements for the year ended March 31, 2022, and the re-appointment of Mr. Raghunathan Srinivasa (DIN: 07615088) as a Shareholder Director, subject to the approval of the Securities and Exchange Board of India (SEBI). Members could attend the AGM via VC/OAVM, with the facility available to the first 1000 members on a first-come, first-served basis, excluding large shareholders, promoters, institutional investors, directors, key management personnel, and auditors. The company engaged NSDL for remote e-voting and venue voting. The remote e-voting period was scheduled from November 28, 2022, to November 30, 2022. Shareholders could register as speakers to raise questions by sending their queries in advance to secretarial@msei.in from November 23 to November 25, 2022. Mr. Ramakant Kini of Sterling Associates was appointed as the Scrutinizer for the e-voting process. The explanatory statement included information about the reappointment of Mr. Raghunathan Srinivasa, detailing his qualifications and experience, including his previous roles at Canara Bank, Stock Holding Corporation of India Limited, UTI Investment Services Limited, TCS Limited, CAMS Pvt. Limited, and IFMR Trust, and National E-Governance Services Limited. Mr. Srinivasa attended two Board meetings in FY 2021-22 and does not hold any equity shares of the Company. He shall be entitled to receive sitting fees. Trading Members or their associates and agents as on the cut-off date were not eligible to vote on Item No. 2 of the Notice. The company securities were required to be maintained in Demat mode. Shareholders were advised to update their contact information. The Annual Report of 2021-2022, which was available on the company's website, showed that Mr. D.K. Mehrotra, Chairman and PID, resigned on March 14, 2022 and Mr. Vijay Sardana, PID term expired on April 26, 2022. Mr. S.V.D. Nageswara Rao was appointed Chairman w.e.f. June 15, 2022. The financial results showed a net loss reduced to Rs. 2349 Lakhs in FY 2021-22 as compared to Rs. 2430 Lakhs FY 2020-21.

Metropolitan Stock Exchange Shares

The Metropolitan Stock Exchange of India Limited (MSE) Annual Report for 2020-21 provides a summary of the company's performance, initiatives, and future outlook. MSE is a recognized national-level stock exchange offering an electronic platform for trading in various segments including Currency Derivatives, Equity, and Equity Derivatives. **Financial Performance and Highlights:** * Total Revenue increased to Rs. 1,881 Lakhs in FY 2020-21, up from Rs. 1,575 Lakhs in FY 2019-20. * Operating Revenue increased to Rs. 585 Lakhs in FY 2020-21 (Rs. 525 Lakhs in FY 2019-20). This includes increases in transaction fees income to Rs. 158 Lakhs and listing processing fees to Rs. 51 Lakhs. * Total Expenses decreased to Rs. 4,311 Lakhs from Rs. 4,910 Lakhs. The decrease stems from lower operating expenses, employee benefits expenses, and administration costs. * The company reported a loss before tax of Rs. (2,430) Lakhs. * The Board did not recommend any dividend on the equity capital. * Earnings per share were negative (Rs. 0.05). **Company Overview and Strategy:** * MSE is a full-service National level Stock Exchange with license to operate in Equity, Equity Derivatives, Debt Segment and Currency Derivatives Segment * The Exchange temporarily suspended trading in its debt segment from September 18, 2020. * MSE focuses on increasing market share in existing segments and plans to introduce new products based on market research and participant feedback. * The company's IT infrastructure is designed for performance, reliability, redundancy, and security and includes a robust trading system with high availability. * MSE maintains a Disaster Recovery Site (DRS) and has Recovery Time Objective (RTO) and Recovery Point Objective (RPO) of 45 minutes and 15 minutes, respectively. * The company complies with SEBI's Cyber Security & Cyber Resilience Framework and maintains ISO certifications for information security and quality management. **Subsidiaries:** * MSE has two subsidiaries: Metropolitan Clearing Corporation of India Limited (MCCIL) and MSE Fintech Limited. * MCCIL undertakes clearing and settlement and saw its operational income increase. * MSE Fintech, initially proposed as a KYC Registration Agency, is yet to commence operations and now proposes to provide IT, Application Service Provider (ASP), and other related services. **Board and Committees:** * The Board consists of six directors, including five Public Interest Directors (PIDs) nominated by SEBI. * Mr. Ajai Kumar was re-appointed as Public Interest Director effective October 23, 2020. * Ms. Trishna Guha and Mr. S. V. D. Nageswara Rao's terms as PIDs have been extended to October 3, 2024. * The Board has various committees, including Audit Committee, Stakeholders Relationship Committee, Nomination and Remuneration Committee, and Risk Management Committee. **Other Key Points:** * The employee count was 145 as of March 31, 2021, down from 160 a year prior. * The Statutory Auditors, T. R. Chadha & Co. LLP, expressed qualification regarding the company’s ability to continue as a going concern due to recurring losses, despite actions taken to address this. * The company has a Vigil Mechanism/Whistle Blower Policy and has constituted an Internal Complaints Committee (ICC) to address sexual harassment complaints. * There were 41 resources dedicated to regulatory functions, costing Rs. 3.59 crores. * During the year, the Registered office of the company shifted to Building A, Unit 205A, 2nd Floor, Piramal Agastya Corporate Park, L.B.S Road, Kurla West, Mumbai - 400070. * The exchange initiated a forensic audit as per SEBI directions. * MSE implemented various SEBI measures and updates, including UCC Updation, Mobile Number Revocation List (MNRL) checks, and new peak margin rules. * MSE's outlook involves strengthening core business, expanding product offerings, leveraging technology, and forming strategic partnerships. * The major risks include decline in industry activities, regulatory changes impacting competition, and cyber security threats. MSE has also considered the impact of the COVID-19 pandemic on their business and operations. * The company is continuing their effort to be compliant with the SEBI as the regulatory body.