Held on 25 April 2014
Financial Technologies (India) announced that the Board of Directors met on 25 April 2014 and took note of the progress on the divestment of 24% stake in MCX. The Board was to recommend the final bidder at today's Board Meeting.The Board took note of the development since the last meeting on 02 April 2014 and the meeting of the Restructuring Committee held on 11 April 2014 and, noted that the due-diligence efforts including sharing of information from MCX and FTIL, and management interaction with MCX and FTIL has progressed well.
The Board expected the bidders to submit their final bid today. However, in the light of the MCX intimation to the exchange on their Board Meeting on 26 April 2014, all the bidders have sought an extension of time.
The Board has considered their request and has decided to meet again on 02 May 2014 to review the same agenda.
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