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The Bombay High Court on Monday set June 15 as the next hearing date in the NSEL-FTIL merger case.
This follows the Government seeking more time to respond to the challenge of FTIL to the final merger order issued by the Corporate Affairs Ministry.
The Corporate Affairs Ministry had in February issued the final order for the merger of scam-hit National Spot Exchange Ltd (NSEL) with Financial Technologies Ltd (FTIL).
The Bombay High Court had earlier kept this order in abeyance till May 2. NSEL is almost entirely owned by FTIL.
The Finance Minister Arun Jaitley had on Friday last told the Lok Sabha that SEBI has been asked to “examine” and take “necessary action against defaulting brokers in the NSEL crisis.
As many as 45,803 FTIL shareholders have opposed the merger of NSEL with FTIL, Jaitley's reply showed.
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