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National Spot Exchange Ltd News

28 Aug 2017

Complaints on Sahara, SEBI top grievances to govt

The study was conducted by the Quality Council of India for the Ministry of Personnel, Public Grievances and Pensions, following recommendations of a Parliamentary committee.

29 Apr 2016

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.

14 Feb 2016

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".

NSEL-Financial Technologies merger

12 Feb 2016

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.

15 Oct 2015

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.

Financial Technologies

10 Apr 2015

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.

Financial Technologies

31 Mar 2015

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).

Financial Technology India Ltd

10 Mar 2015

'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).

10 Mar 2015

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.

02 Dec 2014

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.

Bombay High Court

27 Nov 2014

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.

22 Oct 2014

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.

National Spot Exchange Ltd

11 Sep 2014

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.

01 Aug 2014

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

22 Jun 2014

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).

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