FTIL, however, in a statement said that it will challenge the high court order. “The Honourable Bombay High Court has dismissed our writ petition. However, it has granted 12-week stay on the operation of the merger order. The ministry of corporate affairs (MCA) on 12 February 2016 had ordered a merger between FTIL and NSEL making FTIL responsible for the liabilities of the fraud-hit commodities bourse. NSEL investors have been pushing for a merger between the two entities and want FTIL to assume the liabilities of NSEL.

Source: Mint December 04, 2017 06:56 UTC