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Metropolitan Stock Exchange Shares

Annual Report: 2023

Year: 2023

Annual Report Summary

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.

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