March 10, 2014 11:27 pm | Updated May 19, 2016 07:40 am IST - MUMBAI:
Financial Technologies India Ltd. (FTIL), through its financial advisors JM Financial, has invited bids to sell 24 per cent of its 26 per cent stake in Multi Commodity Exchange (MCX). FTIL, which has been hit by the Rs.5,600 crore payment crisis at its wholly-owned subsidiary National Spot Exchange Ltd (NSEL), has been directed by commodity market regulator Forward Markets Commission (FMC) to reduce its stake below 2 per cent as it (FTIL) was no longer ‘fit and proper’ to run an exchange.
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