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Shares of Financial Technologies India (FTIL) has soared 15% to Rs 206 on the National Stock Exchange (NSE) on back of heavy volumes. The stock opened at Rs 179 and touched a high of Rs 211 on NSE.
Till 1213 hours, a combined 3.79 million shares representing 8.2% of total equity of FTIL changed hands against an average sub one million shares that were traded daily in past two weeks on NSE and BSE.
FTIL in a BSE filing said that the board of the company, on Sunday, March 1, 2015, passed the resolution to strongly oppose the Ministry of Corporate Affair’s (MCA) petition to Company Law Board (CLB) seeking removal and supersession of the FTIL board.
The board has further termed the same as a clear attempt by the MCA to render ineffective and in fact, defeat FTIL’s challenge and opposition to the Proposed Amalgamation of National Spot Exchange Limited (NSEL) with FTIL.
Considering the larger interest of 63,000 shareholders of FTIL, company will challenge the MCA’s move in the Bombay High Court, it added.
Till 1213 hours, a combined 3.79 million shares representing 8.2% of total equity of FTIL changed hands against an average sub one million shares that were traded daily in past two weeks on NSE and BSE.
FTIL in a BSE filing said that the board of the company, on Sunday, March 1, 2015, passed the resolution to strongly oppose the Ministry of Corporate Affair’s (MCA) petition to Company Law Board (CLB) seeking removal and supersession of the FTIL board.
The board has further termed the same as a clear attempt by the MCA to render ineffective and in fact, defeat FTIL’s challenge and opposition to the Proposed Amalgamation of National Spot Exchange Limited (NSEL) with FTIL.
Considering the larger interest of 63,000 shareholders of FTIL, company will challenge the MCA’s move in the Bombay High Court, it added.
