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    HomeNewsBusinessCNBC-TV18 CommentsFTIL moves Bombay High Court against FMC order

    FTIL moves Bombay High Court against FMC order

    FTIL is expected to argue that without any court of law holding Jignesh Shah guilty, the FMC has held him guilty of fraud

    December 21, 2013 / 09:36 IST
       
       
      26 Aug, 2025 12:21
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      Only a few days after the Forward Markets Commission (FMC) order, Financial Technologies (FTIL), has decided to move to Bombay High Court. The fear of the market moving against it has perhaps pushed the company to move this fast.Also Read: Jignesh Shah biggest beneficiary of NSEL fraud, says FMC

      That is one of the concerns raised by FTIL that the matter needed to be heard urgently. The hearing is likely to be held on Saturday.

      Also read:Is the tide turning for MCX stock?

      The primary relief that FTIL is seeking at this point is a stay on the FMC order which came only minutes before the midnight on December 16. The company claims the principles of natural justice were not followed. FTIL is expected to argue that without any court of law holding Jignesh Shah guilty, the FMC has held him guilty of fraud.

      first published: Dec 20, 2013 06:48 pm

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