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.
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MCX-SX was set up by FTIL and MCX, but they have been now classified as 'public shareholders' as against 'promoters' earlier, pursuant to a Sebi-ordered restructuring of its board and governance structure.
Leading stock exchanges BSE and NSE have barred three entities from trading on their platform after they defaulted on dues in connection with Rs 5,600 crore (Rs 56 billion) payment crisis at National Spot Exchange Ltd (NSEL).
The crisis-hit NSEL is promoted by Jignesh Shah-led Financial Technologies (India) Ltd.
Both Corporate Affairs and Finance Ministries are studying the feasibility of implementing the FMC's proposals.
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The exchanges have observed significant price and volume movement in the scrips of MCX in the recent past.
NSEL, promoted by Jignesh Shah-led Financial Technologies (India) Ltd, is facing the problem of settling Rs 5,500 crore.
The NSEL chief said the exchange is also seeking the help of the Delhi government.
The cash segment turnover at MCX-SX sharply fell to Rs 624 crore (Rs 6.24 billion) in November from Rs 1,119 crore (Rs 11.19 billion) in October, 2013.
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
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