Mumbai: IIFL Capital Services Limited received a significant boost after the Securities Appellate Tribunal (SAT), Mumbai, on November 28, 2025, partially allowed an appeal by its wholly-owned subsidiary, IIFL Commodities Limited, modifying a penalty imposed by the Multi Commodity Exchange of India Limited (MCX). The original penalty, which totaled over ₹5.11 crore for the financial years 2014-15 to 2016-17 due to the subsidiary’s false/incorrect reporting of margin amounts, was substantially reduced by SAT.
The Tribunal modified the penalty to ₹40 lakh per year, bringing the total penalty for the three years to ₹1.20 crore. IIFL Capital informed the stock exchanges that apart from the penalty, the order has not had a significant impact on the financial or operational activities of the company, and it will consult with its lawyers for the further course of action.