Chennai: The board of Indian Commodity Exchange (ICEX) will decide on the company`s revival plan next week, its chairman said Saturday.
"The board will be meeting sometime late next week to consider the revival plan. We have a business plan for the board to consider," ICEX chairman Gokul Patnaik told IANS over phone.
However he declined to share further details on the contours of the revival plan as the board has to decide on it first.
The Forward Markets Commission (FMC) had earlier asked ICEX a commodity derivatives trading platform to submit the revival plan soon.
Trading in ICEX was suspended in April this year owing fall in business.
The revival plans include infusion of additional capital as the minimum capital needed now is Rs.100 crore.
Once the ICEX board approves the revival plan, than the same would be sent to FMC.
The ICEX is promoted by a clutch of companies like MMTC, Indiabulls Financial Services, Reliance Exchangenext and others.
