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    HomeNewsBusinessMarketsFMC examines 'fit & proper' status of NSEL promoters

    FMC examines 'fit & proper' status of NSEL promoters

    According to the report the FMC has submitted to the enforcement directorate (ED), NSEL has violated several spot exchange conditions laid down in the revised notification issued on spot exchanges.

    September 11, 2013 / 22:49 IST

    The Forward Markets Commission (FMC) has not taken to the National Spot Exchange and its latest crises lightly. According to the report the FMC has submitted to the enforcement directorate (ED), NSEL has violated several spot exchange conditions laid down in the revised notification issued on spot exchanges.


    The FMC has additionally said that it is examining the ‘fit and proper’ status of NSEL’s promoters, thereby hinting at the riks the promoters’ face.


    In what may come as a further blow to the exchange, FMC has said that it is still waiting for investigation agencies to get enough evidence to prove fraud.

    first published: Sep 11, 2013 10:02 pm

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