In its December order, FMC said FTIL and Jignesh Shah, chairman of FTIL, were unfit to run an exchange in the country and barred Shah from holding a management position in any recognized exchange in India. FTIL, which originally held 26% stake in the Multi Commodity Exchange of India Ltd (MCX), sold its entire holding following the FMC order. The company sold a 15% stake in MCX for ₹ 459 crore to Kotak Mahindra Bank Ltd and the remaining 11% in the open market to public and private investors.