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SumanSpeaks Capital Markets & Geopolitical Intelligence · Estd 2006 Business Transformation SEPC Ltd: The Market Sees an Order. It's Missing a Revolution. It's a Business Model Coup. Mining now makes up 41% of SEPC's standalone order book. A zero-cash acquisition is opening the door to ADNOC-grade oil & gas consultancy in the Middle East. Individually, these look like two good pieces of news. Put together, they describe a company quietly rebuilding what it actually is. Markets often react to the size of an order. They rarely ask whether that order signals a transformation in the business itself. SEPC's ₹3,300 crore Rampur Batura coal mining contract looked, at first glance, like another healthy addition to an already-growing order book. Read differently, it looks like something more interesting: an early marker of SEPC Ltd (...
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Share buyback arrangement was legal, says FTIL 
FTIL clarification in response to FIR registered by CBI
Mumbai, Aug 27 2014 Financial Technologies (India) Ltd. (FTIL) has said that the buyback arrangement for shares with shareholder banks of MCX Stock Exchange (MCX-SX) was declared legal by the Bombay high court while hearing the matter between the exchange and the capital markets regulator. 

The FTIL clarification was in response to the first information report (FIR) registered by the Central Bureau of Investigation (CBI) on Monday for alleged violations while granting extension to MCX-SX. According to CBI, the buyback agreement entered into with the banks was illegal. 

“The Bombay high court, in its order, (Page No. 145 Para VII) had ruled that “the buy-back agreement cannot be held to be illegal as found in the impugned order of the whole timer member of SEBI on the ground that they constitute forward contacts. Hence, the accusation of CBI does not hold ground,” said FTIL.

Courtesy: Live Mint

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