FTIL claims Rs21 crore as immediate expenses in Bombay high court
FTIL had moved court a day after the seizure of assets worth Rs2,000 crore, seeking a stay and interim relief on the proceedings28-07-2016
28-07-2016
Financial Technologies (India) Ltd reply to Clarification sought by the exchange
The Exchange had sought clarification from Financial Technologies (India) Ltd with respect to news article appearing in Business Standard on July 28, 2016 titled "No HC relief to attachment of FTIL bank accounts by EOW"Financial Technologies (India) Ltd replied stating "Please note that the application for interim relief has been kept on Monday, 01st August 2016, for hearing before the Hon'ble High Court, Bombay. We will keep you posted in the matter."28-07-2016
Clarification sought from Financial Technologies (India) Ltd
The Exchange has sought clarification from Financial Technologies (India) Ltd with respect to news article appearing in Business Standard on July 28, 2016 titled "No HC relief to attachment of FTIL bank accounts by EOW." The reply is awaited.28-07-2016
ED may seize Rs1,000 crore of NSEL assets
The Enforcement Directorate will avoid targeting assets already attached by Mumbai police,plans to present united front with EOW in the case25-07-2016
FTIL-NSEL merger won't hurt minority shareholders: govt
Most decisions at Financial Technologies (India) Ltd (FTIL) are controlled by a few large shareholders, says the government in reply to a writ petition22-07-2016
Financial Technologies (India) Ltd reply to clarification sought by the exchange
The Exchange has sought clarification from Financial Technologies (India) Ltd with respect to the media report titled, "HC rejects plea to stay EOW from securing FTIL's assets."Financial Technologies (India) Ltd replied stating "Please note that the matter has been kept on Monday, 25th July 2016, for hearing before the Hon'ble High Court, Bombay. We will keep you posted in the matter".21-07-2016
Clarification sought from Financial Technologies (India) Ltd
The Exchange has sought further updates from Financial Technologies (India) Ltd with respect to query dated July 19, 2016 news article appearing in Times of India on July 21, 2016 titled "HC rejects plea to stay EOW from securing FTIL's assets."The reply is awaited.21-07-2016
Merger with NSEL will not burden FTIL: Government
MUMBAI: The government has stated that its final order to merge scam-hit National Spot Exchange (NSEL) with its parent FTIL, does not presuppose any liability on the latter for defaults on the spot exchange that went belly up in July 2013. "It is submitted that petitioner No 1 (FTIL) .....is listed in various stock exchanges in India. The claims of ....(FTIL) to possess certain reputation in the market due to their high professional accomplishments in their businesses are denied. The impugned order dated 12-02-2016 does not impose any liability on petitioner No 1 for the defaults on exchange of Respondent No 3 (NSEL)." The government filed its reply, based on a Bombay High Court direction, to the amended petition of FTIL against the merger under Section 396 of the Companies Act, 1956. The government passed a final order of merger in public interest on Feb 12 this year. The matter will be heard on July 25. It also countered FTIL's allegation that it had based its merger order on Forward Markets Commission's (FMC) not fit and proper order against FTIL (to be a shareholder of A commodity exchange in light of the scam) in December 2013 without application of mind. It stated that it had considered not just the Commission's order but the oral submissions of FTIL on Oct 13 last year and written submissions against the merger subsequently. It stated that neither the Bombay HC nor Supreme Court had stayed the FMC order as sought by FTIL. FMC was the erstwhile regulator of national commodity...21-07-2016
FTIL assets worth Rs2,000 crore attached a week after Jignesh Shah arrest
The assets seized include the Mumbai headquarters of FTIL19-07-2016
Financial Technologies (India) Ltd reply to clarification sought by the exchange
The Exchange has sought clarification from Financial Technologies (India) Ltd with respect to news article appearing on ET NOW on July 19, 2016 titled "Mumbai police attaches assets of Financial Technology." Financial Technologies (India) Ltd response is enclosed.19-07-2016