"In spite of ongoing communications with Multi Commodity Exchange of India (MCX) and the regulator about the transparent process of divestment of Financial Technologies (India) (FTIL's) stake in MCX and the timelines within which this will be achieved; we are surprised by the MCX Board's reported decision proposing escrow of FTIL's holdings," FTIL spokesperson said.
"We fail to understand the agenda or the intent of the MCX board, as some of the best global and local names have expressed their interest to become the ''anchor'' for MCX and seeking cooperation from the exchange to carry out basic due diligence.
We shall continue to pursue peaceful divestment as possible in any such sale and in case there is any roadblock or measures which will do value erosion due to artificial measures which will cause distress sale then the company will pursue legal measures to protect the interest of 65,000 plus investors of FTIL."
Shares of the company gained Rs 2.45, or 0.68%, to trade at Rs 362.45. The total volume of shares traded was 390,925 at the BSE (Thursday).