National Spot Exchange Limited

All brokerages that facilitated the trade of NSEL's paired contracts have been under the scanner

NSEL case: Sebi disposes of notices against Sharekhan Commodities without directions

The brokerage had also stated that the second showcause notice issued by Sebi had completely bypassed the two-step procedure under the Intermediaries Regulations

NSEL case: EOW arrests 2 auditors of EY associate SV Ghatalia

The two officials have been arrested in connection with a National Spot Exchange Limited (NSEL) scam, six years after it first came to light.

63 moons' assets can't be attached over NSEL scam: Bombay HC

The attachment was made as part of the Mumbai police's probe into the alleged Rs 5,600-crore NSEL scam.

NSEL scam: SFIO writes to NSEL investors seeking details

CNBC-TV18 learns from sources privy to the matter that SFIO has sought information from investors and active trading entities on various aspects of transactions through an exhaustive list of questions.

Sebi speeds ups investigation in MCX insider trading case

The regulator has sent show cause notices to Jignesh Shah, key management personnel and employees of Multi Commodity Exchange and 63 Moons, a source told Moneycontrol.

SEBI moots spot exchange for agri, non-agri commodities

There is no spot market for commodities at present following the implosion of the National Spot Exchange Limited (NSEL) over the payment default in 2013.

Kotak Mahindra stake buy in MCX under lens (Exclusive)

The Serious Fraud Investigations Office (SFIO) has written to Kotak Mahindra Bank seeking documents related to the bank‘s acquisition of 15 percent stake in Multi Commodity Exchange in July 2014, sources told Moneycontrol.

Maha govt forms taskforce to review and coordinate NSEL scam

Maharashtra government has formed a taskforce to review and coordinate the ongoing probe into Rs 5600-crore National Spot Exchange Limited (NSEL) scam in which 13,000 investors lost their money.

NSEL PMLA case: ED attaches Rs 1,170 cr assets of FTIL

The agency said it has issued a provisional order under the Prevention of Money Laundering Act (PMLA), attaching bonds and securities worth Rs 1,065 crore (Rs 1,140 crore market value) and Rs 30 crore balance kept in a private bank in Mumbai of FTIL, now known as Ms 63 Moons Technologies Limited.

Stock mkt turnover slide 43% in Jan-April this yr

The country's stock exchanges saw their overall cash market turnover tumbling over 43 percent to Rs 15.95 lakh crore during the first four months of 2016 over the same period last year.

FTIL, NSEL merger delayed for 3 months till Oct 31

Ministry of Consumer Affairs has said that Financial Technologies India Limited (FTIL) has been attempting to delay passing the final order. In addition, the ministry has received over 45,000 objections from FTIL, which they allege could be engineered or documented.

NSEL: ED attaches Rs 278 cr oil factory in Gujarat

"The estimated value of the attached oil plant is Rs 278.18 crore and attachment notices were served today to the firm after orders in this regard were made on March 10 under the provisions of the Prevention of Money Laundering Act (PMLA)," ED officials said.

NSEL case: Rs 50cr assets of agro firm attached by ED

The agency had identified the assets and immovable properties of the firm after it searched few premises and went through the records of the Mumbai Economic Offences Wing (EOW) prepared in this regard, sources said.

MCX orders FTIL to cut stake from 26% to 2% in a month

Last week, the Forward Markets Commission (FMC) had issued an order declaring FTIL and its chief Jignesh Shah unfit to run any exchange, including the Multi Commodity Exchange of India Ltd (MCX), following a Rs 5,500 crore payment crisis at group company National Spot Exchange Ltd (NSEL).

ED attaches Rs 100 cr assets in NSEL case

The agency's latest action, under Prevention of Money Laundering (PMLA) laws, had been taken against the borrower company and its two group companies, which owe the investors Rs 922 crores, sources said. The ED had earlier attached Rs 75 crore assets belonging to the same firms.

MCX-SX begins search for new CEO

The group has seen a string of resignations in the past few weeks at its various entities. Last week, commodity bourse MCX managing director and chief executive officer Shreekant Javalgekar also submitted his resignation.

NSEL fiasco cannot be one man's doing, say experts

JN Gupta, Former Director, Sebi believes that although at present Anjani Sinha has taken all the flak on himself, it is not possible that he could have done everything on his own.

NSEL crisis: Lookout notice issued against Jignesh Shah

An FIR was filed on Monday by EOW against Shah, Joseph Massey (MD of MCX, another FTIL-promoted firm), other promoters, directors and defaulters charging them with cheating, forgery, breach of trust and criminal conspiracy, among others.

FIU begins probe in NSEL crisis

The Financial Intelligence Unit has begun a probe into the transactions of investors and owners of crisis-ridden National Spot Exchange Limited (NSEL) after probe agencies investigating the bourse detected alleged discrepancies in financial dealings.

NSEL: Govt officials under CVC lens for alleged wrongdoing

The Central Vigilance Commission (CVC) is looking into complaints of alleged irregularities by some Consumer Affairs Ministry officials in connection with Rs 5,600-crore payment default by National Spot Exchange Limited (NSEL).

ED awaits EOW's signal on NSEL's criminality: Sources

The ED has said that for it to register a case against Financial Technologies' promoted-NSEL, some criminality has to be registered. Hence, at this point in time, it has not even investigated into any claims of money laundering or investigated if the company has violated the Prevention of Money-Laundering Act (PMLA).

CBI, other bodies to take action against NSEL: Chidambaram

Finance Minister P Chidambaram on Thursday said that the CBI, corporate affairs ministry and Forward Markets Commission (FMC) will take action against the NSEL.

NSEL auditor says co defaulted on loans for last 2.5 yrs

The exchange, however, continued to conduct business inspite of being aware of all these irregularities, says Grant Thornton. This development could be damaging as Deloitte Haskin & Sells, the auditor of Financial Technologies said on Tuesday that FTIL‘s FY13 account should not be relied upon.

NSEL Fiasco: What Happens Next?

By: Tejesh Chitlangi, Partner, IC Legal