The question on the panelists’ minds this week on CNBC-TV18’s The Firm: will the Securities and Exchange Board of India (SEBI) signal their approval of budding stock exchange MCX-SX’s capital reduction scheme by approving the company’s application to run as a full-fledged stock exchange. Menaka Doshi sat down with Vivek Gupta, Partner at BMR Advisors and Kartik Ganapathy, partner at Indus Law for some answers.