Will FTIL get ‘fit and proper’ tag?

The Securities Appellate Tribunal has concluded the hearing and reserved its order on Financial Technologies’ appeal against a SEBI order declaring it unfit to own stake in any stock exchanges or clearing corporations. Though the SAT did not specify when it would pronounce the final order, traders expect the verdict to be out soon. Earlier, commodities watchdog FMC had also said that FTIL was not “fit and proper” to hold stake in any exchanges.