National Spot Exchange

63 Moons serves legal notices to Chidambaram, 2 civil servants; to seek Rs 10,000 cr damages

Chidambaram was finance minister when the NSEL crisis came to light in late 2013.

Feb 19, 2019, 10:14 AM IST

Sebi issues fresh showcause notice to brokers in NSEL case

Multiple agencies including Sebi are probing the irregularities that happened at the now-defunct National Spot Exchange Ltd.

Apr 28, 2017, 15:12 PM IST

Vested interests trying to scuttle proposed settlement: NSEL

Crisis-hit National Spot Exchange (NSEL), which is being probed several agencies for Rs 5,600 crore alleged scam, Tuesday said vested interests are trying to scuttle its proposed settlement plan to resolve this issue.

Apr 14, 2015, 22:04 PM IST

NSEL scam: court extends Rathi's police custody till March 13

The special court for MPID (Maharashtra Protection Of Interest Of Depositors) Act cases here Saturday extended the police custody of Amit Rathi, managing director of Anand Rathi Commodities, till March 13 in connection with the Rs 5,600-crore scam at National Spot Exchange Ltd.

Mar 07, 2015, 20:41 PM IST

NSEL, FTIL merger after stakeholders' suggestions: Jaitley

The government has issued only a draft order on amalgamating National Spot Exchange Ltd with Financial Technology and if required, the final order will be issued after considering suggestions submitted by the stakeholders, parliament was told Tuesday.

Nov 25, 2014, 18:16 PM IST

Jignesh Shah resigns as FTIL MD; will mentor the firm now

The FTIL Board in its meeting held today appointed Prashant Desai as new Managing Director and CEO of the firm.

Nov 20, 2014, 20:02 PM IST

Jignesh Shah resigns as MD of FTIL

Jignesh Shah has resigned as the Managing Director of Financial Technologies India.

Nov 20, 2014, 19:46 PM IST

FTIL moves Bombay HC against Govt order on merger with NSEL

The Financial Technologies India Ltd (FTIL) has filed a petition in the Bombay High Court challenging the recent government order to merge its crippled National Spot Exchange with itself.

Nov 13, 2014, 20:09 PM IST

MCX attains highest market share since Oct 2013

The bourse, meanwhile, maintained its market share in non- agricultural commodities above 99 percent since Q2 2013-14.

Aug 18, 2014, 15:14 PM IST

E-series investors redeem 85.5kg gold, Rs 140cr cash from NSEL

National Spot Exchange Ltd (NSEL), a subsidiary of Jignesh Shah-led Financial Technologies India Ltd.

Jun 10, 2014, 17:26 PM IST

Jignesh Shah was aware of happenings at NSEL: EOW

In what could be a turning point in chairman of Financial Technologies Jignesh Shah's fate, sources have said that he has given a partial confession to the Economic Offences Wing (EOW) of Mumbai.

Jun 06, 2014, 20:00 PM IST

NSEL crisis: Mayaram panel review actions; seek CBI presence

To prepare a more holistic action plan on the Rs 5,600-crore NSEL payment crisis, the high level Mayaram panel Monday sought representation of CBI in the committee.

Mar 24, 2014, 21:38 PM IST

MCA finds lapses by NSEL promoters; SEBI probes MCX, FTIL

The Ministry of Corporate Affairs is believed to have found serious violations of companies law by the owners of crisis-ridden NSEL, while market regulator SEBI is also investigating corporate governance-related lapses by the group's two listed entities -- FTIL and MCX.

Feb 24, 2014, 22:54 PM IST

NSEL scam: Former CEO Sinha among five named in charge sheet

The other four named in the charge sheet are Amit Mukherjee, former NSEL vice-president (Business Development); Jay Bahukhundi, another ex-assistant vice-president; Nilesh Patel, managing director of NK Proteins Ltd; and Arun Sharma, Lotus Refineries' CMD and a film financier.

Jan 06, 2014, 22:16 PM IST

MCX-SX gets new CEO; shareholders to infuse fresh capital

After a board meeting here today, MCX-SX said that market regulator Sebi has approved the appointment of a new Managing Director and CEO, who was likely to join shortly.

Jan 03, 2014, 21:43 PM IST

NSEL crisis: RBI says no promoter should control any exchange

"The (NSEL) episode has emphasised the need for ensuring that no single shareholder or a group of shareholders is permitted to dominate the functioning of the exchange or exercise management control," the RBI said in its half-yearly Financial Stability Report released today.

Dec 30, 2013, 16:21 PM IST

NSEL defaults 18th time; pays Rs 11.5 cr against Rs 174.72 cr

With today's pay-out, NSEL has so far settled about Rs 263.50 crore against about Rs 5,600 crore dues to 13,000 investors.

Dec 17, 2013, 21:59 PM IST

NSEL scam: Mumbai police attach assets of defaulters

Police suspect equal role of brokers in the scam as many of them have sold NSEL commodities despite having knowledge of the fraudulent practices in the spot exchange.

Dec 08, 2013, 11:40 AM IST

ED attaches Rs 75 cr assets in NSEL scam case

They are one of the largest borrowers in the businesses of this exchange, sources said.

Dec 01, 2013, 18:23 PM IST

'NSEL, board violated rules; failed to act against defaulters'

The National Spot Exchange (NSEL) and its board not only violated multiple regulations but did not take action against repeated defaults which resulted in the current crisis at the bourse, according to an inspection by the Corporate Affairs Ministry.

Dec 01, 2013, 16:14 PM IST