L&T, Norway's DNV sign MoU on collaboration in multiple sectors (See 'Corp Brief') Nadda reviews availability of fertilizers during Kharif season (See 'Corp Brief') IBC - Penalty orders passed by National Faceless Assessment Centre u/s 270A, 271(1)(c) and 271AAC(1) of Income Tax Act, is set aside, being passed after approval of Resolution Plan by NCLT: HC (See 'Legal Desk') Science, Sustainability and Youth Will Drive Change: MoS (See 'Corp Brief') ECL marks World Environment Day 2025 with Campaign 'Ek Ped Maa Ke Naam' (See 'Corp Brief') A&C - Objections pressed by Award Debtor to obstruct enforcement of award, can't be sustained: HC (See 'Legal Desk') KVIC disburses margin money subsidy of Rs 300 Cr to 8794 beneficiaries (See 'Corp Brief') IBC - Insolvency professional cannot be appointed as IRP/RP if any disciplinary proceeding is pending against him: IBBI (See 'Legal Desk') India wins Presidency of Institute of Administrative Sciences (See 'Corp Brief') Minister speaks of path for Elderly Welfare and Empowerment (See 'Corp Brief') Misc - Absence of provision for period of limitation can't be interpreted as to imply indefinite period for initiation & conclusion of proceedings under SAFEMA which impinge upon valuable right of owning properties: SAFEMA (See 'Legal Desk') Integrated farming must be promoted for marginal farmers: Chouhan (See 'Corp Brief') PMLA - Mere attachment of property does not alter position with regard to ownership or even possession/use of properties which are subject matter of such attachment: SAFEMA (See 'Legal Desk') Khattar applauds THDC's Commencement of COD (See 'Corp Brief') PMLA - ED could not have assumed that any other scheduled offence are committed by accused and proceeds were derived therefrom and attached property over above seized gold, even if same were found to out of unexplained source: SAFEMA (See 'Legal Desk') Revamped 'Hall of Nuclear Power: Atoms Serving the Nation' to be Inaugurated in Delhi (See 'Corp Brief') Capital Market - Violations comitted by research analysts in misleading clients with assurances of guaranteed returns & failure to supervise employee's communications, calls for penalty: SEBI (See 'Legal Desk') Textile Secy presides over 4th meeting of ESG Task Force (See 'Corp Brief') DPIIT to host Special Event marking 68 Years of Copyright Act (See 'Corp Brief') CCI okays acquisition of share capital of IDFC First Bank by Currant Sea Investments (See 'Corp Brief') PMLA - Restrictions provided u/s 45 of PMLA would not come in way of ensuring right to personal liberty and speedy trial under Article 21 of Constitution of India: HC (See 'Legal Desk') CCI approves acquisition of Interpublic Group of Companies by Omnicom Group Inc. (See 'Corp Brief') 'India Pavilion' inaugurated by Crown Prince of Norway (See 'Corp Brief') MOIL achieves best May production (See 'Corp Brief') PMLA - Penalty of Rs 77 Lakhs imposed on a small cooperative bank, for failure to report certain cash transactions, is excessive; could jeopardize it's financial stability - quantum of penalty stands reduced: PMLA Tribunal (See 'Legal Desk') IICA to establish First Regional Campus in N-E, advancing Corporate Governance (See 'Corp Brief') A&C Act - re-possession of medical equipment correct where loan is secured through hypothecation of medical equipment & where Facility-cum-Hypothecation Agreement clearly provided for right of repossession in case of default: HC (See 'Legal Desk') JNARDDC hosts Meet with non-ferrous recycling stakeholders in Hyderabad (See 'Corp Brief') PMLA - a finance company has a duty to conduct due diligence regarding the financial history and credibility of its debtor: TRIBUNAL (See 'Legal Desk') HM reviews world's largest cooperative food grain storage scheme (See 'Corp Brief') IBC - Income tax dues are sovereign dues and cannot be declared as secured debt solely because of reason that attachment was made seeking recovery of dues: NCLT (See 'Legal Desk') Phase-2 of NAKSHA Capacity Building Programme to be launched across 5 Centres of Excellence (See 'Corp Brief') IEPFA and SEBI launch First 'Niveshak Shivir' in Pune (See 'Corp Brief') IPR - Phonographic Performance Limited cannot issue or grant licences for sound recordings in its repertoire, without registering itself as copyright society or becoming its member: HC (See 'Legal Desk') NHAI Chairman visits Kerala to inspect Highway Projects (See 'Corp Brief') Capital Market - Responsibility u/s 10(5) of FEMA can't be waived by relying on valuation certificate issued by CA, when DCF method was based on incorrect data: SAFEMA (See 'Legal Desk') Lt Gen Dinesh Singh Rana takes over as Commander-in-Chief of Andaman Command (See 'Corp Brief')

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Devika Shah assumes office of ICCL as CEO

Published: Jan 01, 2018

By TIOLCORPLAWS News Service

NEW DELHI, JAN 01, 2018: MS Devika Shah has been appointed as the MD & CEO of Indian Clearing Corporation Limited (ICCL). Devika comes with over 30 years of rich experience with BSE and has deep understanding of the exchange and clearing corporation related operations and regulations. During her tenure at BSE, she headed various functions, in the areas of regulatory & business, including surveillance, investigation & inspection, trading operations, clearing & settlement, listing membership, Investor Protection Fund, business development, accounts, legal & regulatory communications. She holds a Bachelors in Commerce degree from the University of Mumbai & is a Fellow member of the Institute of Chartered Accountants of India.

ICCL was incorporated in 2007 as a wholly owned subsidiary of BSE Ltd. (BSE). ICCL carries out the functions of clearing, settlement, collateral management and risk management for various segments of BSE. ICCL undertakes to act as the central counterparty to all the trades it provides clearing and settlement services for.

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