Sebi relaxes norms for FTIL’s MCX stake divestment
23 Aug 2014 5:33 AM IST
Commodity bourse MCX on Friday said that the capital markets regulator Securities and Exchange Board of India (Sebi) has relaxed norms to allow FTIL to bring down its stake to 1.99 per cent in the commodity bourse.
In a filing to the BSE, MCX said that it has received a communication from ‘Sebi granting relaxation from the strict enforcement of Regulation 36 of Sebi (ICDR) Regulations 2009 subject to conditions’.
The relaxation is granted only for ‘the limited purpose’ to enable Financial Technologies (FTIL) to comply with the commodity markets regulator Forward Markets Commission order dated 17 December, 2013, it said.
‘The relaxation has been granted considering the peculiar nature of the case and cannot be construed as a precedent to obtain similar exemptions in future,’ Sebi said in the communication to
MCX.
In a filing to the BSE, MCX said that it has received a communication from ‘Sebi granting relaxation from the strict enforcement of Regulation 36 of Sebi (ICDR) Regulations 2009 subject to conditions’.
The relaxation is granted only for ‘the limited purpose’ to enable Financial Technologies (FTIL) to comply with the commodity markets regulator Forward Markets Commission order dated 17 December, 2013, it said.
‘The relaxation has been granted considering the peculiar nature of the case and cannot be construed as a precedent to obtain similar exemptions in future,’ Sebi said in the communication to
MCX.
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