The Securities and Exchange Board of India (SEBI) levied a penalty of Rs 25 lakh on Multi Commodity Exchange of India (MCX) for failing to timely disclose substantial payments totaling Rs 222 crore to 63 Moons Technologies for software services. These payments, spanning three quarters from October 2022 to June 2023, significantly exceeded MCX’s annual profit in FY 2021-22, rendering them material financial information.