The Central Government has decided on the merger of National Spot Exchange Limited with its holding company Financial Technologies (India) Ltd., in public interest under Section 396 of the Companies Act, 1956. A draft order in this behalf has been issued. All due procedures in this regard shall be followed. The members of the two companies, its creditors may provide suggestions/objections within a period of 60 days.

The text of the draft order along with its Annexures can be seen at the web-site of the Ministry of Corporate Affairs at www.mca.gov.in

Merger under Section 396 initiates a draft order and a time-limited opportunity for members and creditors to object. Central Government has initiated a compulsory merger of National Spot Exchange Limited into its holding company Financial Technologies (India) Ltd. under Section 396 of the Companies Act, 1956 in public interest; a draft order has been published, statutory procedures will be followed, and members and creditors may submit suggestions or objections within a 60-day period via documents posted on the Ministry of Corporate Affairs website.