Mohan India

Mohan India, the second largest NSEL borrower had proposed a settlement plan of Rs 771 crore, to NSEL on October 30 by making Rs 11 crore down payment and then paying the remaining amount in monthly installments.

Angry NSEL investors accuse Financial Tech of another fraud

Financial Technologies shares touched a 2-month high of Rs 201 this morning after the company said it had sold its entire 100 percent equity ownership in Singapore Mercantile Exchange for USD 150 million.

EOW begins attachments, borrowers in line of fire

The focus of this offensive is on borrowers, with the first order featuring 20-25 properties. These properties belong, primarily, to ARK one of the 6 main borrowers who account for nearly 70% of the 5600 crore in question.

NSEL defaults for 12th time; pays Rs 11cr vs Rs 174.72cr

National Spot Exchange Ltd (NSEL), which is engulfed in a Rs 5,600-crore payment crisis, had previously defaulted 11 times. On its seventh pay-out date, the bourse was unable to make any payment as its accounts were frozen by economic offences wing (EoW) of the Mumbai police.

NSEL defaulter Mohan to pay 1.5% upfront under settlement

Under the agreement, Mohan India will pay Rs 11 crore (less than 1.5 percent of outstanding loan) upfront, and the remaining amount will be paid over the next one year.

Jignesh Shah questioned in presence of Nilesh Patel

NK Protein's Nilesh Patel was also present during the interrogation. EOW sources say at the moment the borrower statement is also important to implicate Jignesh Shah.

EOW arrests NSEL's Amit Mukherjee, is Anjani Sinha next?

The NSEL fiasco on Wednesday saw the first arrest with its vice president of business development getting arrested. Sources say Anjani Sinha may also face a similar fate.

NSEL defaults on 3rd pay-out

The beleaguered NSEL has already defaulted in the first two pay-outs as it received only Rs 92.73 crore from members in the first pay-out and Rs 12.05 crore in the second pay-out, out of the scheduled Rs 174.72 crore each.

NSEL declares 10 more defaulters, takes tally to 19

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.