Financial Technologies has filed fresh application in the Bombay High Court against Economic Offences Wing (EOW) for attachment of its bank account, reports CNBC-TV18. Hearing in this case is scheduled for July 28.
The Company Law Board on Thursday adjourned the hearing on the MCA petition to supersede the board of Financial Technologies till April 17
Speaking exclusively to CNBC-TV18, Venkat Chary, Chairman, FTIL, termed the government allegations at the Company Law Board as frivolous and baseless.
MCX-SX MD and CEO Saurabh Sarkar says the exchange is looking to raise funds of nearly Rs 300 crore in the next few months.
Sources say that the Tech Mahindra might be looking at aquiring promoter‘s stake in FT. However, Nayyar refused to comment on the matter saying "it would be too premature to speculate about FT".
The board of MCX-SX would decide whether it would allow Financial Technologies to subscribe to its rights issue, MCX Vice Chairman Thomas Matthew said. MCX-SX, India‘s third national stock exchange run by MCX, is looking to raise Rs 500-600 crore via the rights issue.
Financial Technologies shares touched a 2-month high of Rs 201 this morning after the company said it had sold its entire 100 percent equity ownership in Singapore Mercantile Exchange for USD 150 million.
According to DK Mittal, the government should now move together and go to the Company Law Board to get the NSEL board replaced by another management which ultimately turned around the company.
Speaking to CNBC-TV18 soon after Financial Technologies' auditor said that the FY13 earnings are no longer reliable, Ranina, corporate tax lawyer said that the company has allegedly committed a very serious offence by presenting false accounts.