Miri Strategic Emerging Markets Fund LP, the hedge fund owned by US-based Miri Capital Management LLC, has bought an additional 0.77 percent stake in the technology services firm
Sebi has passed its order on companies which were defunct in any case.
On Wednesday, Sebi ordered impounding of "averted losses" worth over Rs 125 crore through alleged insider trading in MCX and its erstwhile promoter FTIL by 13 persons, including relatives of Shah and former top executives, with 'prior information' about the NSEL case.
Defunct spot exchange for agriculture goods NSEL's former CEO Anjani Sinha averted a loss of about Rs 8.5 lakh in insider trading with prior information about the crisis at the exchange, SEBI said.
Since then, multiple agencies including Sebi, the Directorate of Enforcement (ED) and the Reserve Bank of India (RBI) are probing the irregularities at the now-defunct NSEL.
MCX and FTIL, which is now known as 63 Moons Technologies, were founded by Jignesh Shah. In the wake of the Rs 5,600-crore scam at group entity National Spot Exchange Ltd (NSEL), FTIL sold its stake in the commodity exchange.
Jignesh Shah-led Financial Technologies (India) Ltd has changed its name to 63 Moons Technologies.
Crisis-hit Financial Technologies India (FTIL) today said the Enforcement Directorate has directed HDFC Bank to secure Rs 30.27 crore and then allow normal debit-credit operations in the current account.
CNBC-TV18's Yash Jain -- who has a copy of the letter -- reports that NSEL has alleged that FTIL only disclosed payable expense and did not mention inward cash flows.
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.
Government today decided to set up a special court to hear all NSEL related cases on a priority basis while also asked the Enforcement Directorate to expedite action to recover Rs 3,721 crore from defaulters, and regulator Sebi to complete probe of brokers at the earliest.
EOW has attached the assets in connection with the NSEL scam. Shah was arrested in the case earlier this month.
Back in the news over the Rs 5,600-crore NSEL scam, Jignesh Shah has seen many ups and downs since the inception of Financial Technologies (India). Here's a timeline that chronicles his days right from the day he incorporated Financial Technologies.
The Enforcement Directorate (ED) claimed in the court that Shah had made Rs 76-crore worth bogus deals in the NSEL scam.
The country's stock exchanges saw their overall cash market turnover tumbling over 43 percent to Rs 15.95 lakh crore during the first four months of 2016 over the same period last year.
The Bombay High Court today extended till March 31 the stay to the implementation of merger between National Spot Exchange Ltd (NSEL) and Financial Technologies (India) Ltd (FTIL).
The government also said that the CBI is enquiring into the conduct of government officials, including those from two public sector undertakings, to ascertain whether they were involved in abetting the payment crisis at the National Spot Exchange Ltd (NSEL)
"The company has concluded the sale of balance 5 percent equity stake in IEX on a fully diluted basis... With the conclusion of the transaction, the company has competed sale of its entire 25.64 percent stake in IEX," Financial Technologies said in a regulatory filing.
For the remaining stake in electricity exchange IEX, the company had earlier this week entered into a share purchase agreement with MADISON India Opportunities III for sale of 1.58 percent stake.
With the conclusion of the transaction (of 11 percent stake), the company had completed the sale of 13.60 percent stake in IEX, on fully diluted basis.
In the wake of the payment crisis, the Corporate Affairs Ministry last year ordered the merger of NSEL with its parent firm FTIL but that has been challenged by the exchange and the matter is now before the Bombay High Court.
ITC, M&M, Coal India, NTPC and HDFC Bank are top gainers in the Sensex. Among the losers are Tata Motors, BHEL, GAIL, Cipla and Tata Steel.
The order effectively means that all fixed assets of FTIL stand frozen till September 2, which means they cannot be sold off, hived off and no third party rights can be created with respect to these assets.
FTIL floats EoI to sell 23% stake Financial Technologies of India Ltd (FTIL) has begun the process of selling its 23 percent stake in MCX-SX Clearing Corporation in order to comply with market regulator Sebi's order.in MCX-SX CCL
The Rs 5,600 crore scam surfaced at FTIL's subsidiary NSEL in August 2013 affecting 13,000 investors. The spot exchange has recovered only Rs 371.8 crore from defaulters as on March 30 this year.