HC extends stay on merger of NSEL, FTIL till March 31

HC extends stay on merger of NSEL, FTIL till March 31
The Bombay High Court has granted an extension of stay on the final order of merger of NSEL with FTIL issued by the Ministry of Corporate Affairs till March 31, 2016.

The next hearing on the case has been kept on March 17, 2016, and all contentions are to be filed by the parties on or before March 15, 2016, Financial Technologies said. 

Last week, the Ministry of Corporate Affairs (MCA) had issued the final order to forcefully amalgamate National Spot Exchange (NSEL) with its publicly listed parent Financial Technologies India (FTIL).

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