GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
Draft Order of Amalgamation
Of
National Spot Exchange Limited (Dissolved Company)
With
Financial Technologies India Limited (Transferee Company)
Under Section 396 of the Companies Act, 1956
The Central Government proposes to issue the following Order (presently in the Draft form) causing Amalgamation of National Spot Exchange Limited with its Holding Company Financial Technologies (India) Limited, the reasons for passing the proposed Order are set out in detail in the Annexure annexed with the draft Order.
Whereas the Central Government is satisfied that to leverage combined assets, capital and reserves, achieve economy of scale, efficient administration, gainful settlement of rights and liabilities of stakeholders and creditors and to consolidate businesses, ensure co-ordination in policy, it is essential, in the public interest, that Financial Technologies (India) Limited, a company incorporated under the Companies Act, 1956 (1 of 1956) having its Registered Office at Shakti Tower-1, 7th Floor, Premises E, 766, Anna Salai, Thousand Lights, Chennai – Tamilnadu-600002 and the National Spot Exchange Limited incorporated under the Companies Act, 1956 (1 of 1956) having its Registered Office at FT Tower, CTS No. 256 and 257, 4th Floor, Suren Road, Chakla , Andheri ( East), Mumbai, Maharashtra – 400093, should be amalgamated into a single company.
Now, therefore, in exercise of the powers conferred by sub-sections (1) and (2) of section 396 of the Companies Act, 1956 (1 of 1956) the Central Government makes the following order to provide for the amalgamation of the said two companies into a single company namely:
