Dated 13th
February, 2008
PRESS NOTE-FORWARD
MARKETS COMMISSION MUMBAI
General
Public and trade bodies are hereby informed that Esugarindia Limited, Mumbai,
having its office at Bajaj Bhavan, 2nd floor, Jamnalal Bajaj Marg,
226, Nariman Point, Mumbai – 400021 was given recognition by the Government of
India vide Notification S.O. No. 639(E) dated 17th June, 2002 under
section 5 of the Forward Contracts (Regulation) Act, 1952 (74 of 1952) in
exercise of the powers conferred by Sec.6 of the said Act. The said recognition
to Esugarindia Limited was given for a period of five years from 20th
June, 2002 to 31st May, 2007. The Exchange did not organize forward
trade for long during the period of recognition nor did it seek renewal of
recognition beyond 31st May, 2007.
2. After
giving reasonable opportunities, the Esugarindia Limited has informed that they
have decided to stop activity of regulating forward contracts in Sugar.
Accordingly, Esugarindia Limited, Mumbai is no longer an association recognized
for forward trading in Sugar.
Forward
Markets Commission
Mumbai