Can both Financial Technologies (FT) and MCX be considered as mutually exclusive entities in this case?
Gupta: Persons acting in consert has a very clear definition. Again this is something that falls within question number one which is a technical question. I am sure that when such a complex scheme of restructuring has been proposed by the promoters, they have taken adequate care to say that FT and MCX do not form part of the same promoter group. So technically I am sure that they have taken adequate care to be able to demonstrate that they are not persons acting in consert. So on this part also I think on appeal they probably will have a good case. I am not aware of the exact facts pattern and I am not aware of exact build up of facts that they would have done but I would imagine that this is something that they would have done to ensure that both the promoter entities do not constitute persons acting in consert. Q: The other aspect which the SEBI has raised is that MCX-SX is instrumental to buy back transactions. Now these are transactions which MCX-SX has entered with various banks t
