Home / Financial News / SAT asks FTIL to move Sebi with deadline extension plea

SAT asks FTIL to move Sebi with deadline extension plea

The Securities Appellate Tribunal (SAT) has asked Financial Technologies India (FTIL) to move Sebi with its plea seeking extension of deadline for divesting its holdings in MCX-SX and three other exchanges.

FTIL has filed an application before SAT seeking extension of time for complying with the Sebi order, dated March 19, declaring it not fit and proper to hold any stake in a stock exchange. The company had moved SAT against the order last month.

The tribunal, however, had ruled in Sebi’s favour and given FTIL time till August 9 to divest. “Since applicant (FTIL) is seeking further time, it would be just and proper for applicant to move Sebi in that behalf.

Accordingly, we permit applicant to move Sebi seeking extension of time. If such application is made, SEBI would consider it on its merit and pass appropriate order thereon,” SAT said in an order dated August 21.

Leave a Reply

x

Check Also

Debate on Article 370 marked by posturing, says RSS

The Rashtriya Swayamsevak Sangh (RSS) is recalibrating its discourse on its demand ...

Street cautiously positive on JSPL post coal mine

Jindal Steel and Power (JSPL), which witnessed its lowest point in the ...