National Spot Exchange Ltd

The scheme of paired contracts illegally traded on NSEL platform has inflicted a huge loss to the market to the extent of Rs 5,500 crore, Sebi noted.

Sebi issues fresh notices to 20 entities in NSEL scam

Final orders against these entities can be passed by the regulator anytime so, sources said.

ED attaches FTIL's mutual funds worth Rs 307 cr

In a filing to the BSE, FTIL said: "The company has received a provisional attachment Order from the Directorate of Enforcement, Mumbai, attaching mutual funds amounting to Rs 306.70 crores." The company is taking appropriate steps in consultation with its legal counsel, it added.

NSEL crisis: Govt asks Sebi to act against defaulting brokers

The government also said that the CBI is enquiring into the conduct of government officials, including those from two public sector undertakings, to ascertain whether they were involved in abetting the payment crisis at the National Spot Exchange Ltd (NSEL)

MSEI appoints Udai Kumar as interim MD, CEO; Sarkar resigns

In addition, the exchange has initiated the process of hiring a new MD and CEO. Sarkar quit the bourse that is battling low business volumes and inadequate reserves.

FTIL floats EoI to sell 23% stake in MCX-SX CCL

FTIL floats EoI to sell 23% stake Financial Technologies of India Ltd (FTIL) has begun the process of selling its 23 percent stake in MCX-SX Clearing Corporation in order to comply with market regulator Sebi's order.in MCX-SX CCL

FTIL-NSEL swap ratio finalised; NAFED to get 38 shares

Under the swap ratio, decided by the Ministry, NSEL shareholders would get three shares of Financial Technologies (India) Ltd (FTIL) for every eight shares held in spot bourse.

FTIL put Rs 1000cr solution plan; brokers reject proposal

The Rs 5,600 crore scam surfaced at FTIL's subsidiary NSEL in August 2013 affecting 13,000 investors. The spot exchange has recovered only Rs 371.8 crore from defaulters as on March 30 this year.

Commodity regulator FMC to be merged with Sebi: Jaitley

Presenting his maiden full-fledged Budget today, Finance Minister Arun Jaitley said the Government would merge "FMC with Sebi".

FTIL asks shareholders to oppose 'forced' NSEL merger

In October last year, the Ministry of Corporate Affairs had ordered merger of the NSEL with Financial Technologies (India) Ltd. The move was aimed in ensuring faster recovery of dues for entities hit by the Rs 5,600-crore fraud at NSEL.

NBHC appoints Padma Vibushan Vijay Kelkar as chairman

The development comes on the heels of private equity firm India Value Fund Advisors (IVFA) taking management control of the company.

FTIL seeks expression of interest for stake sale in MCX

Regulator FMC had issued order following a probe into the operations of FTIL's group firm National Spot Exchange Ltd (NSEL) in connection with payment crisis of Rs 5,600 crore. In a public notice issued today, FTIL invited "expression of interest for FTIL's 24 percent stake in MCX".

Corp Affairs Min issues notices to 3 NSEL, FTIL auditors

The ministry has issued show cause notices to three auditors seeking explanation for the lapses in auditing the books of NSEL and Financial Technologies (India) Ltd, according to a senior official. The notices have been sent for violations of Companies Act.

FTIL voting rights in MCX capped at 2%

In the BSE filing, MCX said the board decided that the exchange would "call upon FTIL to immediately divest shares in excess of the said 2 percent. "Besides, the FTIL is being informed that in view of the FMC order, with immediate effect, any voting in excess of the said percentage by them would not be taken into consideration."

Investors in Indian commodity exchanges flee as trade sinks

It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.

Sahara Group seen muzzling media by obtaining a book ban

Muzzling authors and journalists is the oldest trick in the book for corporate groups and it is indeed surprising that a high court can grant an ex parte stay when the highest court in the land has made a series of negative comments on the Group that go well beyond what any journalist may want to say about Subrata Roy's Sahara Group.

NSEL crisis: NK Proteins offers to pay in tranches

NK proteins has offered to pay Rs 25 crore upfront and 5 crores every month.

NSEL crisis: Certain entities under scrutiny, says Pilot

The crisis at the bourse, which suspended operations on July 31 following government direction, is being investigated by multiple agencies, including the Economic Offences Wing of the Mumbai police.

NSEL promoter Shah, ex-CEO Sinha blame each other for fraud

The drama took place as officials from Mumbai Police's Economic Offences Wing (EOW) grilled Shah in the presence of Sinha, who is in police custody in connection with the fraud. This was the second time that Shah was questioned by police.

FMC asks bourses to register warehouses with WDRA

A directive has been issued to six national commodity bourses - MCX, NCDEX, NMCE, ICEX, ACE and UCX - as the Forward Markets Commission (FMC) found that some exchanges were not ensuring the quality and quantity of commodities.

PMO plans to set up special team to look into NSEL issue

With a payment crisis engulfing the National Spot Exchange Ltd (NSEL), the Prime Minister's Office is planning to set up a special team headed by the Economic Affairs Secretary to look into the issue.

Fall in value of raw stock may trip NSEL settlement

CNBC-TV18‘s Sajeet Manghat and Payaswini Upadhyaya report that the fall in value of raw stock at the warehouses is one of the many hurdles that may trip the NSEL settlement.

Govt bans NSEL e-series contracts to settle investor dues

The government on Tuesday banned trading in e-series contracts at the National Spot Exchange Ltd (NSEL) as it wants the exchange to first settle about Rs 5,600 crore dues to investors, consumer affairs minister KV Thomas said.

NSEL fallout: Sebi says no risk to system

A day after crisis erupted at the National Spot Exchange Ltd, capital market regulator Sebi today said it is on "top of the situation" and there is no systemic risk as settlements are happening.

Govt preparing new regulations for commodity spot exchanges

Amid the crisis on the National Spot Exchange Ltd (NSEL), the government today said it is preparing new regulations for spot exchanges that offer electronic platforms for trading in commodities. "The government is working on new regulations for spot exchanges.