MCX fined Rs 25 lakh by SEBI

SEBI has imposed a fine of Rs 25 lakh on Multi Commodity Exchange of India (MCX). SEBI in a letter said that the fine has been imposed for inadequate disclosures regarding payment to 63 Moons Technologies for software services.

Fined By SEBI : Capital market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs 25 lakh on Multi Commodity Exchange of India (MCX). The fine needs to be made within 45 days. SEBI in a letter said that the fine has been imposed for inadequate disclosures regarding payment to 63 Moons Technologies for software services. 63 Moons Technologies was the provider of software support and maintenance to MCX before the latter transited to a platform developed by Tata Consultancy Services (TCS )