NeML appoints Mrugank Paranjape as MD, CEO

The board of directors of NCDEX eMarkets Ltd (NeML) on Thursday announced the appointment of Mrugank Paranjape as the company's managing director and chief executive officer.

The board of directors of NCDEX eMarkets Ltd (NeML) on Thursday announced the appointment of Mrugank Paranjape as the company's managing director and chief executive officer. NeML is a 100 per cent subsidiary of the National Commodity and Derivatives Exchange (NCDEX), according to a statement.

Paranjape has taken over the charge effective Thursday (November 5). Prior to joining NeML, Paranjape worked with Alpha Alternatives, a boutique alternative asset manager in the absolute return and commodities area where he was a senior partner.

He has also worked as the managing director and chief executive officer of the Multi Commodity Exchange of India (MCX) for three years. Paranjape said, "I am excited by this opportunity to lead the able team of NeML in these challenging yet interesting times. The Indian agriculture today stands at a cusp of a transformation and will enhance its significance to the Indian economy." He added that NeML as a company is rightfully poised to drive this evolution.