FTIL is ready to provide assistance to the Economic Offences Wing (EOW) or other investigative authorities as and when required. The company is going through difficult times, owing to the false allegations, but still Prashant Desai, MD & CEO, FTIL says has full faith in the Indian judiciary. He stated that instead of believing any false leads and holding perceptions, the companyshall wait for the judgment by Mumbai High Court.
It was observed that FMC (Forward Markets Commission) extended its punitive actions for FTIL while the parent company is in no way connected with the trading at NSEL.Instead, it was later confirmed that NSEL, along with its promoters, are not receiving any benefit from NSEL operations. Moreover, NSEL has never parted any dividend or bonus or financial benefit to FTIL.
FTIL stands victimized by FMC, as the institution declared that the company is ‘not fit and proper’ to run stock exchanges on baseless reasons. Additionally, FTIL is suffering huge losses as it is compelled to release its stakes at distress values.While NSEL is endeavoring to mitigate the disappointment of the investors by filing suits against all the defaulters, FTIL is counting upon the country’s legislature and looks forward to the fair course of justice.
Remarkably, the defaulters and broking house (that traded the contracts) shall be checked over by the government agencies to clear prevalent misconceptions and rumors spread by people of vested interests.
Notably, no money trail has been established towards FTIL or its senior management yet. Desai assures compliance with all lawful instructions and would extend assistance to every investigation. Since Desai has faith in the nation’s judiciary, he confirmed that the group will continue to abide by the law.