Crisis-ridden National Spot Exchange (NSEL) today declared ten more entities as defaulters after they failed to pay their dues on the second-pay out on Tuesday, taking the number of members who are to pay dues at 19.
The exchange also declared the name of clients who traded through defaulting members.
The ten members who have been declared defaulters are, LOIL Continental Food, LOIL Health Foods, Mohan India, Namdhari Food International, Namdhari Rice and General Mills, White Water Foods, Shree Radhey Trading Company, P D Agroprocessors, Swastik Overseas Corp and Juggernaut Projects.
The bourse promoted by Jignesh Shah is facing a crisis after it suspended trade on July 31, raising concerns about possible default of Rs 5,600 crore owed by 24 buyers’ members.
NSEL has defaulted for the second consecutive week in paying its investors as it has been able to pay only Rs 12.05 crore against the scheduled payout of Rs 174.72 crore.
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