Gives 90 days time to dispose stake in four entities.
In the first major international exchange business initiative by an Indian entity, a new commodity and currency bourse, Singapore Mercantile Exchange (SMX) on Tuesday commenced trading here with derivatives contracts like gold, crude oil and Euro-US dollar.
The exchange's promoters-- Financial Technologies (India) Ltd and commodity bourse Multi Commodity Exchange (MCX)-- have already divested 30 per cent stake in the stock exchange to various public and private banks and institutions.
The court, later in the day, allowed his application.
The deal values DGCX, which started operations one and a half years ago, at a whopping $1.25 billion.
MCX Stock Exchange, set up by crisis-hit NSEL's promoters, on Friday appointed Saurabh Sarkar as CEO and announced plans for fresh capital infusion by its existing shareholders among measures to boost business.
A major payment crisis involving Rs 5,600 crore (Rs 56 billion) broke out at National Spot Exchange last year.
Allegations of a particular market player being favoured over others were flying thick and fast in the early days of the scam.
The sessions court on Thursday extended the police custody of the Financial Technologies and Multi Commodities Exchange (MCX) promoter Jignesh Shah and former managing director and chief executive of the commodity exchange Shreekant Javalgekar till May 19.
Laxity in enforcing KYC and allied norms suspected; money laundering gaps also on probe panel's mind
The Mumbai Police, probing the Rs 5,600-crore (Rs 56 billion) scam at the National Spot Exchange has initiated the process of attaching about 25 immovable assets of the borrowers and has shortlisted nearly 100 properties of all the accused in the case, a senior police official said.
Shah came under scanner last year, when his group company NSEL faced a payment crisis and nearly 18,000 investors allegedly lost millions in late July.
The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore (Rs 56 billion) payment default by National Spot Exchange Limited (NSEL) saying it would "hamper the process of investigation or apprehension of offenders".
Under U K Sinha, Sebi became a pan-India organisation with local offices in 16 cities
The exchange may now look to its real estate business for cash flows
Hearing an appeal against the market regulator's denial of information sought through Right to Information Act, the Appellate Authority has ruled the process relating to grant of recognition of MCX-SX in 2008 has been completed.
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Ledger entries in NSEL books show no record of T+2 leg of the paired trades with borrowers.
Brokers have only kept guarantees for which they have open positions.
Investor forum wants govt to take over exchange, raises doubts on claims of matching stocks; NSEL says default by brokers to be dealt with legally.
I-T dept investigating black money angle; FM hints against bailout for bourse's investors.
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