MCX-SX agrees to meet 5 stake norm

The MCX-SX on Tuesday informed the Bombay High Court that it had passed a resolution stating that the promoters would not increase their stake in the equity exchange by more than 5 per cent.

MCX was intimating the court on its resolution in response to a query which the Bombay High Court had posed to Sebi.

The court had asked Sebi whether it would reconsider its decision to permit MCX-SX to commence equity operations if the latter gave an undertaking that it will not increase the equity stake in the venture by more than 5 per cent.