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Financial Technologies has decided to reconvene its board meeting next Friday to review the divestment process of its 24 per cent holding in MCX.
Some of the bidders have sought more time as they expect the MCX board meet to be held on Saturday to take a decision on revealing details of the Special Audit Report conducted by PricewaterhouseCoopers, said FTIL in a statement after its board meeting held here today.
The commodity market regulator has already instructed the exchange to make PwC report public. On April 11, FTIL said the restructuring committee has received non-binding bids from nine prospective bidders.
This was subject to cooperation from MCX on due diligence. The divestment of stake in MCX was without prejudice to FTIL’s rights pending before the court, said FTIL in a statement.
“We have disclosed all material information about MCX which is in public domain. Any information beyond this has to be shared by MCX,” it said.
Considering the concern raised by some of the potential investors, FTIL expects MCX to share the information sought by these investors to complete the divestment as early as possible it said.
FTIL has also sought the draft report to share its views on some of the purported allegations against it. Neither MCX nor PwC have shared the report or sought views from FTIL, said the statement.
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