CERC asks FTIL to transfer stake in IEX to trust a/c by Jul 2

 Financial Technologies is asked to transfer to transfer its entire stake in the trust demat account of India Energy Exchange (IEX) and to fully exit the exchange before July 2, 2015 by the power sector regulator Central Electricity Regulatory Commission (CERC).
According to the order, FTIL is asked to complete the sale of its entire stake in IEX by July 20, failing which the latter will take steps to sell the shares by August 5. An FTIL spokesperson said this would "adversely affect FTIL and the interests of its 63,000 shareholders, particularly when the very authority of CERC to issue such directions is under challenge before the Supreme Court."