ey sec /peamiipedtag erte zee val cota .To-exnmine wnetrer MX had the information that IGID had shared the MCX data wth others, and i yes then what ere the terms and conditions in such eases and detals/proofs af payments |. besktop analysis of emails of Mr, Mrugank Faranigne, MD fi CED ana Mr. V Shunmugam, Head Research Deing Hieugunh Peraniapartindla.com and shunewsaat Srcaindia.cam respectively, on their respective desktops 25 shown to usin thelr presence. Search carried on mail data 2s above for key word comprising primary of ames of members of nvalved ofthe instiute’, HET. “ALGO’,TGIDR: , wi, Interview with the aforesaid personnal and tle replioe thereon.4a TRC & Co LLP Mis Mut Commodi Beane oft Lad Chartered decinmanie Dra Forensic Aud Report on IGIDR greener EXECUTIVE SUMMARY ‘Agreement effective 01.09.2016 & Undertaking dated 29.08.2016, NOX nos entered to an greement with Indra Gan snstte of Deveopnant Resear (UGKOR) elective fem 008.2056, ‘The Stamp on the spreement 6 cated 23.08.2016 and ane of the signatories, hae mentioned Wa este ae 26,09,2036. Tre agreement was signad by Mr. Mrugank Paranjape, MD 8 CEO of the MCX which was witnessed by Mr. V Shunmugam, Chet Economist and Hr DG Praveen, Viea Present Product Research & Planing on behal of MCX. On behalf of IGIOR, the agreement was signee by Hr. Js! Mohan Pant, Registrar, IGIDR, Goregaon Mumbai ‘Aontt from the agreement as mantioned above, MCX has obtained an Undertaking dated 28.08.2036 duly signed by Or. Susan ‘Thomas on behalf of IGIDR. This isnot signed by Bhyone from MCX. ‘he Agreement effective from 01.09.2036 is wit regpido tree delvebles.. Analial Research Paper CTT, Poly Rind Table ard Potcy Paper. reepectvely, whereas the’ Undertaking dated 79.08.2016. wae for studying exes of rlevence te Commodi market ond hence these wer two Independare dacuments for wo independent purposes! Comment given by various personnel on the same are as follows; Nir. V Shanmugam - The agreement was done to utiize their research capabilities to take formsrd our polcy advocacy wark the area of commodity transaction tax and bullion markets furtier (0 aialvse HFT data for regulatory paley feedback purposes. Research and date undsreaking are independent except that HPT deta wos used In accomplshing the reseorch wore os jr Ure Me. Paranjape - Both of these documents are separate with /o linking and a9 common context. The undertaking is with respect fe sharing of required data on dally basis whereas tne agreervant is or poi research based on diferent dete and as per specie ‘elverables. Ms Susan Thomas - The purpose for this cantract was to carry out empirical market microstructure research in the space of ‘xchange traded commodlty derivatives markets research work, and ofthe undertaking was to receive data from MCX to eanduet this research. Paes Coniats Mui Commodity Bschane of Da Lud 1 Chea Co Lhe Do Pavone ut Report on IDR rect Ceterad Accountants 44 Initial process for entering into Agreement / Underealing wit GOR / Koseacchers 10s However, thereeter the eval ‘was polite as ID 4.8 Negative titration’ ana nenERR ‘The process for en We have noted thet an side wae i agreement) slang oF Bsa COUT OTNSE wis ‘isle ber Tete te SEB wih regatta NSEscsee Ns ee wine of the Extract of Ue Atle fas fotows; Whistleblower to SEB: teen seen? iene —