Press Trust of India | Wednesday March 16, 2016
Financial Technologies on Wednesday said it has exited from Dubai Gold and Commodities Exchange (DGCX) by selling its 13 per cent stake in the bourse to Dubai Multi Commodities Centre (DMCC).
Press Trust of India | Tuesday February 16, 2016
The Bombay High Court on Tuesday extended till March 31 stay to implementation of merger between National Spot Exchange Ltd (NSEL) and Financial Technologies (India) Ltd (FTIL).
Press Trust of India | Sunday February 14, 2016
As a face-off continues between Jignesh Shah-led Financial Technologies India Ltd (FTIL) and the Corporate Affairs Ministry over the company's merger with National Stop Exchange Ltd (NSEL), the government in its final order has said that over 96 per cent of the objections received on the proposed amalgamation prima-facie were "orchestrated and conc...
Press Trust of India | Thursday February 11, 2016
Seeking to expedite recovery of money in the Rs 5,574-crore NSEL payment crisis, the government on Thursday decided to take immediate steps for auction of non-encumbered properties and also asked markets regulator Sebi to initiate action against defaulting brokers.
Press Trust of India | Wednesday January 13, 2016
The crisis-hit National Spot Exchange (NSEL) has claimed that it has secured recoveries worth Rs 1,233.02 crore from 23 defaulters who owe a total amount of Rs 4,515.93 crore.
Press Trust of India | Friday June 26, 2015
Financial Technologies India Ltd (FTIL) has begun the process of selling its 23 per cent stake in MCX-SX Clearing Corporation Ltd (MCX-SX CCL) in order to comply with a Securities and Exchange Board of India order.
Friday June 19, 2015
Financial Technologies India Ltd (FTIL) on Friday said it has entered into a new share purchase agreement with four companies to sell a 16.6 per cent stake in Indian Energy Exchange Ltd (IEX) for Rs 357.06 crore.
Wednesday April 15, 2015
Crisis-hit Financial Technologies India Ltd (FTIL) on Wednesday said it has completed the sale of its entire 5 per cent stake in MCX-SX for nearly Rs 89 crore, thus exiting the bourse.
Sunday April 12, 2015
Opposing the proposed merger of crisis-hit National Spot Exchange Ltd (NSEL) with its parent Financial Technologies India Ltd (FTIL), industry body Assocham has said that a company cannot be held liable for "any alleged liability" of a subsidiary.
Friday April 10, 2015
The swap ratio has been decided after considering the fair value of NSEL at Rs 77 a share and the calculation was based on latest audited financial statements of the bourse as on March 31, 2012.
Tuesday March 31, 2015
Financial Technologies India Ltd (FTIL) on Tuesday said it has submitted to the government a Rs 1,000-crore settlement plan, including Rs 500 crore to be contributed by brokers, to clear the claims of small and mid-sized investors on scam-hit National Spot Exchange Ltd (NSEL).
Wednesday March 18, 2015
The crippled National Spot Exchange Ltd (NSEL) on Wednesday accused the brokers of not providing investor details, and said going by the number of details it got so far the total number of investors who have claimed to have lost money looked bogus.
Tuesday March 10, 2015
The government in October last year had ordered merger of National Spot Exchange Ltd (NSEL) with its parent firm Financial Technology India Ltd (FTIL).
Tuesday March 10, 2015
Seeking "fair chance" to explain its stand, NSEL in two volume book titled "Truth about NSEL" attempts to clear the air around its promoter firm, Financial Technologies (FTIL) and how its new board is attempting to recover and rebuild the exchange.
Press Trust of India | Wednesday March 4, 2015
Cracking down on commodity brokerages for their alleged role in the Rs 5,600-crore scam at National Spot Exchange Ltd (NSEL), Mumbai Police on Tuesday arrested three top executives of leading broking houses.
Press Trust of India | Thursday February 26, 2015
The government, in October last year, had ordered the merger of NSEL with its parent firm Financial Technologies (India) Ltd.
Press Trust of India | Wednesday February 25, 2015
The Gujarat High Court has refused to entertain petitions challenging Mumbai Police's notices for attachment of properties of NK Proteins in Gujarat in connection with the Rs 5,600-crore National Spot Exchange Limited (NSEL) scam.
Tuesday December 2, 2014
Hearing a suit filed by National Spot Exchange Ltd, the Bombay High Court on Tuesday asked one of its defaulters, M/s Mohan India Group, and its directors to disclose all their properties within four weeks.
Friday November 28, 2014
The order was passed by a division bench of Justice V M Kanade and Anuja Prabhudesai while hearing a petition filed by FTIL challenging the proposed merger.
Wednesday November 26, 2014
FTIL has been in trouble ever since the Rs 5,600 crore payment scam surfaced at group firm NSEL in July last year.
Tuesday November 25, 2014
Scam-hit National Spot Exchange Ltd's merger with parent firm Financial Technologies India Ltd (FTIL) will be done after considering suggestions from stakeholders, the government said on Tuesday.
Monday November 17, 2014
FTIL decided to exit the exchange business and focus on its core technology business after the Rs 5,600 crore scam surfaced at its Indian subsidiary NSEL last year.
Wednesday November 12, 2014
Some minority shareholders of Financial Technologies India Ltd (FTIL) have raised objections to the proposed merger of the scam-hit National Spot Exchange Ltd (NSEL) with the company.
Friday November 7, 2014
Facing a government-ordered merger of the crisis hit National Spot Exchange Ltd (NSEL) with itself, Financial Technologies India Ltd (FTIL) on Friday announced spinning off a key revenue-generating trading software product into a separate subsidiary as part of a major restructuring exercise.
Thursday November 6, 2014
Financial Technologies India Ltd (FTIL) said on Wednesday that it will fully exit IEX by selling its entire stake to a clutch of investors for Rs 576.84 crore.
Wednesday October 29, 2014
Wiser after the Rs 5,600-crore scam at National Spot Exchange Ltd (NSEL), the government on Wednesday withdrew exemption granted to all spot commodity bourses for launching one-day forward contracts in agri and non-agri items with immediate effect.
Monday October 27, 2014
NSEL Crisis: Government Mulls Board Changes for Merged Entity, Says Report
Wednesday October 22, 2014
Financial Technologies owned 99.9 per cent in commodities exchange NSEL, which shut down last year after defaulting on obligations to counter-parties amounting to around Rs 5,500 crore. NSEL has since faced legal cases from traders in the exchange after failing to settle outstanding contracts.
Tuesday October 21, 2014
Mumbai Police on Tuesday arrested two top honchos of different defaulting companies, which collectively owe over Rs 1,000 crore to the crisis-hit National Spot Exchange Ltd (NSEL).
Tuesday October 21, 2014
With the government ordering the merger of National Spot Exchange Ltd (NSEL) with Financial Tech India Ltd (FTIL), the parent firm might have to absorb huge liabilities including over Rs 5,200 crore payment dues to clean up the mess at the scam-hit bourse.