The Company Law Board (CLB) has adjourned till September 2 hearing on the Ministry of Corporate Affairs (MCA) petition to supersede the Board of Financial Technologies (India) Ltd (FTIL).
At the CLB hearing today, the CLB Chairman M M Kumar also directed FTIL to maintain status quo (on sale of assets) till September 2 without affecting the operations of the company.
The MCA had on February 25 moved the CLB to supersede the FTIL Board.
FTIL had opposed the Corporate Affairs Ministry's petition to CLB to supersede the Board.