Sebi's bias and injustice continued: MCX-SX

The MCX Stock Exchange (MCX-SX) today said Sebi with the order rejecting permission for a full-fledged stock exchange has continued with its "bias and injustice" against the bourse.

The exchange said that it would take the necessary action after consulting the lawyers.

"We are sad to see the continuation of the same bias and injustice as we have seen hitherto in the order passed by Sebi today," MCX-SE said in a statement after the Sebi order.

"Despite the undertakings given to Sebi as per the order of Bombay High Court, submitting legal opinions on the Scheme of Capital Reduction and the submissions made in our reply to the Notice of Sebi, it has still upheld the allegations mentioned in the Notice.

"We find the same injustice, discrimination and prejudice continued in this order. We have noted that by this order Sebi has rejected our application for approval of other segments..." the exchange said.

It further said that it was "studying the lengthy order in all its aspects and will take appropriate measure in consultation with our legal counsels.

"We have confidence and respect in the resilience of our judiciary and the appellate forums and are sure that justice will be done to us in the near future.

"Until such time, we would continue to work on our currency derivative segment," MCX said.