Justice Gautam Patel asked the Ministry to provide the documents required by FTIL and give it a hearing in two weeks.
Commodity market regulator Forward Markets Commission (FMC) had late last year proposed to merge NSEL with FTIL, as demanded by investors following the Rs 5,600-crore payment crisis at the exchange.
The FMC proposal came after it felt that the workforce and financial strength of NSEL has been depleted and so it was "financially and physically incapable of effecting any substantial recovery from the defaulting members".
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