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The Bombay High Court has adjourned the hearing of the SEBI-MCX-SX case to September 9.
Mr Darius Khambata, representing SEBI, ended his arguments on Friday after arguing at length on the possibilities and probabilities of a breach of Manner of Increasing and Maintaining Public Shareholding (MIMPS) compliances by the MCX-SX in the future. This was followed by a rejoinder by the petitioner (MCX-SX).
This was the fifth day of the court proceedings in the SEBI-MCX-SX matter. The case is being heard by Mr Justice D.Y. Chandrachud and Mr Justice Anoop Mohta.
Last year, MCX-SX had filed a case against SEBI for rejecting their application to start equities trading.
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