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FMC issues 'not fit & proper' notice to Universal Commodity Exchange promoter and MDThe notices have been issued after the auditing firm KPMG, which conducted forensic audit of the UCX, found several irregularities.- FTIL floats EoI to sell 23% stake in MCX-SX CCLFTIL has floated an expression of interest (EoI) from entities interested in acquiring its 23 per cent stake in MCX-SX CCL.
- Corporate affairs ministry finalises share swap ratio for proposed NSEL-FTIL mergerThe corporate affairs ministry has finalised the share swap ratio for the proposed merger of crisis hit National Spot Exchange (NSEL) with ...
- Supreme Court declines Financial Technologies plea to stay FMC orderThe apex court, issued notice to Sebi on another petition filed by FTIL against its order directing it to divest some of its stake in the M...
- Indian Energy Exchange in talks with FTIL for buying out technology solutionsLast month, FTIL entered into about Rs 576-crore deal to offload its 25.64 per cent shareholding in the bourse. The stake is to be sold to ...
- CERC gives Financial Technologies more time for IEX stake saleThe CERC's decision came on a plea filed by Financial Technologies (India) Ltd seeking more time to complete the divestment process.
- MCX board approves new pact with FTIL for tech supportMCX, which is already using the technology provided by its erstwhile promoter Financial Technologies (FTIL), is likely to sign a new agreem...
- Vested interests behind FMC's call for merger, alleges NSELIn fact, NSEL said, FMC decisions are dissipating the exchange's energy in various directions instead of a joint effort for recovery.
- Forward Markets Commission approves Kotak Mahindra Bank deal to buy 15 per cent stake in MCXFMC has also asked Kotak Mahindra Bank Ltd to disclose every-year to commodity exchange MCX that it is in compliance with 'fit and proper' ...
- Merger of scam-ridden NSEL with FTIL a bad ideaA merger of the kind proposed vitiates the concept of limited liability where the shareholders liability is restricted to the paid-up capit...
- MCX to ask SEBI to waive 2% cap on FTIL stake saleThe board of Multi-Commodity Exchange of India has decided to ask market regulator SEBI to relax the 2 per cent lock-in cap on its promoter...
- Merge NSEL with FTIL, says commodity market regulator to governmentA merger would transfer NSEL’s liabilities of more than Rs 5,000 cr to FTIL that has so far financially ring-fenced itself from the scam
- FTIL may move Supreme Court for relief on MCX-SX exitFTIL might have to consider moving the Supreme Court against a SAT order that directed it to divest its shares and warrants in the bourse b...
- Financial Technologies says MCX stake sale to Kotak Bank done at 'fair' priceFTIL said that the price per share for the sale of stake in MCX is Rs 600 and not "Rs 664" as mentioned in the BSE query.
- FTIL drags Forward Markets Commission to court over amended shareholding normsIn December last year, FTIL was declared unfit to hold more than 2% in MCX, primarily as a fallout from the Rs 5,600-crore scam on its subs...
- Reliance Capital asks FMC to annul all pacts between MCX and promoter FTILThe company said it will be “extremely unreasonable” to expect binding bids in the absence of certainty on the fate of these pacts.
- Government clears new rule on commex shareholding, rule abolishes anchor investor conceptIn one stroke, the new rule will abolish the concept of anchor investor and shut the door for unregulated private firms and businessmen.
- Commodity bourse MCX drops preferential issue planMCX finds itself in a bind over ensuring that its promoter FTIL cuts its stake to 2% from 26% after having been declared not ‘fit & proper’...
- MCX may be restrained from launching fresh contractsThe NSEL, which is promoted by FTIL, has been defaulting on payments to 13,000 investors. In July, FMC had halted trading at the exchange.
- MCX, Financial Technologies edge lower by up to 9 pctShares of MCX and FTIL today fell sharply after the board of MCX asked promoter FTIL to reduce its stake to 2%, in accordance with the regu...
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