FT Group Investments Pvt. Ltd, Mauritius, a wholly-owned subsidiary of Financial Technologies (India) Ltd (FTIL), on Monday, approved the sale of its 100 per cent stake in Bourse Africa Limited, Mauritius.
It was decided to sell the bourse to ‘Continental Africa Holdings Ltd (CAHL), Mauritius, for $40.5 million,’ FTIL said in a note to the BSE and the NSE. It sold Bourse Africa Limited, Mauritius, together with its wholly owned subsidiary Bourse Africa Clear Ltd. FTIL, meanwhile, said that it would approach the Supreme Court with regard to the order of the Forward Markets Commission (FMC) declaring it not to be a ‘fit and proper person’. Today the Bombay High Court, refused to grant any relief, “but nevertheless gave liberty to FTIL to file a Special Leave Petition before the Supreme Court to challenge the decision of the Division Bench,” FTIL said in a statement here. — Special Correspondent
