There is some hope for these companies, with Finance Minister Arun Jaitley saying there was a need for legislative backing for private companies that were using Aadhaar. Adding that a careful reading of the judgment is required, Jaitley said this could be "temporary".
IEX, promoted by Financial Technologies, will be a pan India neutral and transparent electronic demutualized exchange for efficient price discovery in the electricity market. PTC India Ltd has consented to take 26 per cent stake in IEX.
An interview with Jignesh Shah.
Financial Technologies India Ltd, the main promoter of India's largest commodity exchange MCX, on Thursday said it has acquired 90 per cent stake in a South Africa-based ICX Platform (Pty) Ltd for $1.5 million (about Rs 6 crore).Financial Technologies has acquired 90 per cent stake in ICX Platform (Pty) Ltd, a technology company situated at Johannesburg, South Africa, the firm said in a filing to the Bombay Stock Exchange.
The bourse had proposed to settle all dues amounting to Rs 5,574.31 crore (Rs 55.74 billion) in 30 weeks, according to a settlement schedule issued by NSEL on August 16.
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
The move is expected to cut into the business of rival Bombay Stock Exchange (BSE).
The National Stock Exchange is chalking out a strategy to launch a separate trading platform for small and medium companies.
Financial Technologies India Ltd, media house TV18 and Liberty Shoes are among the seven bidders interested in buying a stake in Delhi Stock Exchange as the defunct bourse gets ready to restart operations.
Gives 90 days time to dispose stake in four entities.
Shares of Multi Commodity Exchange of India (have tanked over 11% to Rs 428 on back of heavy volumes on the bourses.
The order says he was the 'highest beneficiary' of NSEL fraud and has proven unfit to handle affairs of any exchange.
A special audit will look into any pricing anomalies in the transactions between the two, according to a source. FTIL had a contract for helping the exchange with its technology needs.
Polaris Financial Technology Ltd , the Chennai-based information technology major which provides products, solutions and services for the financial services sector, has appointed five CEOs, one for for each distinct line of business.
Nokia and Financial Technologies India on Monday announced a tie-up to make available 'i-Win', India's first integrated realtime wireless Internet information and trading platform for retail investors.
The Securities and Exchange Board of India, on Wednesday, directed Jignesh Shah-led FTIL to sell shares in MCX-SX and other entities within 90 days on the ground that it was not 'fit and proper' to own stakes in any exchange.
Only time will tell, if the 'Shah' of exchanges will walk out of this battlefield unscathed.
Financial Technologies India Ltd (FTIL) promoter Jignesh Shah, whose 'fit-and-proper' status to run an exchange has been under regulatory scrutiny following the Rs 5,600-crore payment fraud at NSEL, on Tuesday decided to continue as a director of group firm Multi Commodity Exchange (MCX).
Financial Technologies hogged the limelight after the stock plunged 65% today.
Shah's emotional statement indicates he has bid farewell to MCX; but is he stooping to hit back?
From what the crisis is all about to who all are affected, here are 10 FAQs.
The broader markets were battered heavily. BSE Mid-caps and Small-caps indices fell between 1-2% on the BSE.
Kotak Mahindra Bank has decided to buy a 15 per cent stake in Multi Commodity Exchange (MCX) for Rs 459 crore from Financial Technologies India (FTIL).
The decision to quiz Sinha, as also former Sebi Chairman M Damodaran, was taken after examination of another former Sebi chief C B Bhave earlier this month, during which the agency sleuths were told that public interest was involved in grant of licence to MCX-SX to trade in currency derivatives.
A major payment crisis involving Rs 5,600 crore (Rs 56 billion) broke out at National Spot Exchange last year.
Mitron probably would have continued with the free run for quite some time, had it not come to light that the source code of the app was actually developed by a Pakistani developer, reports Neha Alawadhi.
Vodafone Idea, the promoter of Aditya Bira Idea Payments Bank, said in a notification to the exchanges late on Friday that the board of the bank approved winding up the business, subject to approval from the Reserve Bank of India.
India's top payments service provider Financial Technologies-promoted atom technologies, Visa and Reliance group's Reliance Securities have come together to enable 1 million customers of Reliance Securities to make online money transfers to their broking accounts through atom's payment solutions, using any Visa debit card.
The 'Dun & Bradstreet - Polaris Financial Technology Banking Awards 2012' seeks to recognise the growth and resilience of the Indian banking industry.
Two days after Mumbai Police attached his properties, Jignesh Shah, director of the beleaguered National Spot Exchange Ltd, on Thursday told investigators that he was making "relentless" efforts to recover money from defaulters.
To ensure faster recovery of dues for entities hit by the Rs 5,600-crore (Rs 56-billion) fraud at NSEL, the government last month ordered the merger of the bourse with its parent firm Financial Technologies (India) Ltd.
The Ministry of Corporate Affairs ordered the inspection of the books of accounts of NSEL and Financial Technologies India Ltd to ascertain if any rules under the Companies Act were violated, a senior official said.
The licence of MCX-SX is coming up for renewal before Sebi later this month.
NSEL scam: Brokers of IIFL, Anand Rathi, Geojit arrested.
Modi will have a number of high-profile multilateral and bilateral meetings with global leaders including United States Vice President Mike Pence and Singapore premier Lee Hsein Loong.
"In response to India's payments data circular, we've built a system that stores payments-related data locally in India," WhatsApp spokesperson said in a statement.
After Joseph Mathai's death his wife Teresa found solace in doing service in his memory. Arthur J Pais reports
Around 200 brokers are said to be involved in the scam; they have been summoned for questioning. Major brokerages questioned by the EoW so far include Anand Rathi, Motilal Oswal, India Infoline and Geojit Comtrade.
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.
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