FINANCIAL TECHNOLOGIES (INDIA) LTD. Vs. CENTRAL ELECTRICITY REGULATORY COMMISSION AND ORS.

JUDGEMENT

(1.) THE present appeal has been filed by the Financial Technologies (India) Limited (in short, 'FTIL') challenging the order dated 13th May, 2014 passed by the learned Central Electricity Regulatory Commission (hereinafter referred to as 'Central Commission') in Suo Motu Petition No. SM/341/2013 whereby the learned Central Commission, in the matter of Regulatory Oversight of the Management and Governance of Indian Energy Exchange Limited (IEX), has disposed of the aforesaid Suo Motu Petition in exercise of its powers under Regulation 22(A) and Regulation 63(i) of the Central Electricity Regulatory Commission (Power Market), Regulations 2010 directing the following for compliance by the Indian Energy Exchange (IEX): -

(2.) THE Financial Technologies (India) Limited is the appellant in this Appeal and is also one of the promoter shareholders of the IEX and has two Directors on the Board of the IEX.

(3.) THAT the impugned order dated 13.05.2014 of the learned Central Commission has been challenged on the following grounds: -