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Sebi adjourns hearing on FTIL issue to Feb 12

Mumbai: The Securities and Exchange Board (Sebi) today adjourned to February 12 hearing on the eligibility of Financial Technologies (India) Ltd, whose group entity NSEL is at the centre of a scam, to run stock
India TV News Desk January 13, 2014 23:37 IST
India TV News Desk
Mumbai: The Securities and Exchange Board (Sebi) today adjourned to February 12 hearing on the eligibility of Financial Technologies (India) Ltd, whose group entity NSEL is at the centre of a scam, to run stock and commodity exchanges.

Financial Technologies (India) Ltd's (FTIL) lawyers appeared before the market regulator, which had last month issued a showcause notice questioning FTIL's status to hold stake in MCX-SX, following a report by FMC saying the company and its promoter Jignesh Shah are not eligible to run any exchange following the NSEL scam.

The watchdog agreed to push FTIL's hearing to February 12 as another appeal, filed by the company against the commodities regulator Forward Markets Commission (FMC) order, is pending before the Bombay High Court, sources said.