No major decision was taken in today's board meeting and board plans to write to FMC, saying the regulator has to decide the next course of action, exchange sources said.

MCX has been given time till February 10 to submit a time-bound action plan to implement the FMC order that held FTIL was not `fit and proper' to hold anything over a 2 percent shareholding in the MCX.
     
On December 17 last year, the FMC had issued an order declaring Financial Technologies India Ltd and its chief Jignesh Shah unfit to run any exchange, including the MCX, following the Rs 5,600-crore payment crisis at group company National Spot Exchange Ltd (NSEL).
     
FTIL and Shah have already moved the Bombay High Court, challenging the FMC order.

(Agencies)

Latest News  from Business News Desk