Merger of Financial Technology (FTIL) and National Spot Exchange Limited (NSEL)

The Government has issued only a Draft Order of merger/amalgamation of National Spot Exchange Limited (NSEL) with Financial Technology (FTIL) in essential public interest under Section 396 of the Companies Act, 1956 on 21.10.2014. The final Order, if required, will be issued after the consideration of objections/suggestions to be submitted by the stakeholders on the Draft Order for which they have been given two months’ time.

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today.