FTIL's next Sebi hearing on February 12

Company has challenged an FMC order declaring it not 'fit and proper' to own a substantial stake in MCX

Financial Technologies India (FTIL) today appeared before market regulator Sebi, which has issued it a show cause notice questioning its 'fit and proper' status to hold stake in stock exchange MCX-SX.

The regulator has agreed to push FTIL's hearing to February 12 as another appeal filed by the company against the Forward Markets Commission's (FMC) order is pending before the Bombay High Court (HC), said a person privy to the development.  

FTIL has challenged an FMC order declaring it not 'fit and proper' to own a substantial stake in Multi Commodity Exchange (MCX).