PwC report: FTIL says it will take legal action

Apr 30 2014, 04:30 IST
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SummaryFinancial Technologies, which has a 26% stake in MCX, rejected the PwC special audit report on the corporate governance

Financial Technologies, which has a 26% stake in MCX, rejected the PwC special audit report on the corporate governance issue at the commodity exchange and said it will take legal action against the bourse and PwC for painting a wrong picture in the report.

FTIL had set up the commodity exchange MCX, but it no more

controls MCX after a regulatory order passed in the wake of R5,600-crore payment crisis at FTIL's subsidiary NSEL. FMC had appointed PwC last year to audit books of MCX.

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