Government sources say that the board of Financial Technologies will be restructured as it suspects something fishy in its activities.
Government sources indicate that the board of Financial Technologies may have to be restructured as there is more to the company that meets the eye, reports CNBC-TV18’s Malvika Jain.
Currently, Ministry of Corporate Affairs (MCA) and other departments are going through the minutes of the meetings which took place in the National Spot Exchange Limited (NSEL) and at Financial Technologies after the latter found out that something was wrong with the exchange.
It will also assess the corrective action they took as the board of FTIL cannot completely distance itself from NSEL, government sources say.
A final view in this matter is going to be taken up only once the Registrars of Companies (ROC) and the Regional Directorate of Mumbai will finalise its report on the matter.