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NSEL scam: Sebi to act against defaulting brokers

Sebi has been asked to take necessary action against the defaulting brokers in the nearly Rs 5,600-crore NSEL scam while the Corporate Affairs Ministry and other agencies including the Enforcement Directorate are also investigating the case, the government said on Friday.

FTIL-NSEL merger: MCA says 96% objections 'orchestrated'

FTIL-NSEL merger: MCA says 96% objections 'orchestrated'

In a first-ever move forcing the amalgamation of two private companies, the MCA has ordered the merger of crisis- hit National Spot Exchange Ltd (NSEL) with its parent FTIL (Financial Technologies India Ltd) in "public interest".

Govt orders merger of NSEL with Financial Technologies

Govt orders merger of NSEL with Financial Technologies

This is the first case of the government ordering merger of two private companies invoking a rarely used clause in the companies law.

ED opposed merger of NSEL with FTIL: FinMin

The Enforcement Directorate (ED) had opposed merger of the crisis-hit National Spot Exchange Ltd (NSEL) with Jignesh Shah-promoted FTIL, saying such a move would impede investigation in the Rs 5,600-crore payment scam, the Finance Ministry said Thursday.

FTIL-NSEL swap ratio finalised; NAFED to get 38 shares

The government has finalised the share swap ratio for the proposed merger of crisis-hit NSEL with its parent Financial Technologies, which itself will not get any share.

FTIL offers Rs 1000cr settlement plan; brokers reject proposal

Financial Technologies today said it has submitted to the government a Rs 1,000-crore settlement plan, including Rs 500-crore to be contributed by brokers, to clear the claims of small and mid-sized investors on scam-hit National Spot Exchange Ltd (NSEL).

'Most shareholders oppose proposed merger of NSEL with FTIL'

The government in October last year had ordered merger of National Spot Exchange Ltd (NSEL) with its parent firm Financial Technology India Ltd (FTIL).

NSEL launches campaign to clear the air over payment crisis

NSEL has launched a massive media outreach explaining the circumstances leading to the Rs 5,600 crore payment crisis as well as how it has been "singled out" and no action has been taken against real culprits.

In NSEL suit, HC asks Mohan India to declare assets

Hearing a suit filed by the National Spot Exchange Ltd, the Bombay High Court Tuesday asked one of its defaulters, M/s Mohan India Group, and its directors to disclose all their properties within four weeks.

HC orders status quo to proposed merger of FTIL with NSEL

The Bombay High Court on Thursday ordered `a status quo' till December 22 to the proposed merger of Financial Technologies India Ltd with the National Spot Exchange Ltd.

Govt orders merger of fraud-hit NSEL with parent firm FTIL

To ensure speedy recovery of dues for investors and others hit by Rs 5,600-crore "fraud" at the National Spot Exchange Ltd, the government on Tuesday ordered merger of the scam-hit firm with its holding company FTIL.

NSEL rejects slow recovery charge,says FMC can enhance process

NSEL defaulted to the tune of Rs 5,600 crore a year ago and 13,000 investors had been hit by the payment crisis.

HC to study chargesheet then decide on Jignesh Shah's bail

Economic Offences wing (EOW) of Mumbai Police intended to file chargesheet against Shah and others on or before August 4.

Indian Energy Exchange: FTIL mulls appeal against CERC order

Financial Technologies is mulling appealing against electricity regulator CERC's order that directs the company to completely divest its stake in the Indian Energy Exchange (IEX).

NSEL accuses former CEO of trying to influence probe

Crisis-ridden National Spot Exchange Ltd (NSEL) Thursday accused its former CEO Anjani Sinha of trying to influence the investigation and judicial proceedings in alleged irregularities in the bourse by giving media statements.

FinMin issues show-cause notice to NSEL on exemptions

The Finance Ministry has issued a show-cause notice to the National Spot Exchange Ltd (NSEL), which is engulfed in a Rs 5,600 crore payment crisis, asking why exemptions granted to it in 2007 should not be withdrawn.

FTIL reports net loss of Rs 371.25 cr in Q4

Crisis-hit Financial Technologies India Ltd (FTIL) on Saturday reported a net loss of Rs 371.25 crore for the quarter ended March 31, 2014 due to lower sales and provisions made for doubtful loans and advances.

Shah's arrest: NSEL Investors Forum hopes to get back money

NSEL Investors Forum represents 13,000 investors, whose money is stuck following the payment crisis at the National Spot Exchange Ltd, a subsidiary of FTIL.

NSEL invites bids to sell ferrochrome stock of defaulter firm

"Bids in sealed cover are invited by NSEL for sale of 14,200 tonnes of Ferrochrome at NSEL warehouse in Andhra Pradesh," the NSEL said on its website.

NSEL settles Rs 330 crore of Rs 5,500 crore dues in 33 weeks

Embattled spot commodity bourse NSEL has settled Rs 330 crore, or 6 percent of the amount due to investors since it suspended operations, missing its own deadline to clear payments.