National Spot Exchange

SC upholds Maharashtra's decision to attach 63 Moons assets under depositor protection Act

Sets aside the judgment of the Bombay High Court that had quashed the notifications by the state government against 63 Moons

Sebi order: Jignesh Shah says no violations; alleges conspiracy

On Wednesday, Sebi ordered impounding of "averted losses" worth over Rs 125 crore through alleged insider trading in MCX and its erstwhile promoter FTIL by 13 persons, including relatives of Shah and former top executives, with 'prior information' about the NSEL case.

NSEL urges Sebi to resolve Rs 5,600-cr payment crisis

Since then, multiple agencies including Sebi, the Directorate of Enforcement (ED) and the Reserve Bank of India (RBI) are probing the irregularities at the now-defunct NSEL.

Sebi tells MCX to conduct forensic audit of its technologies

MCX and FTIL, which is now known as 63 Moons Technologies, were founded by Jignesh Shah. In the wake of the Rs 5,600-crore scam at group entity National Spot Exchange Ltd (NSEL), FTIL sold its stake in the commodity exchange.

EXCLUSIVE: SFIO serves notices to brokers in NSEL scam

The Serious fraud Investigation office (SFIO) has shot off notices to all broking firms whose clients traded in commodity pair contracts on the National Spot Exchange. The brokers have been asked to furnish their books of accounts, a source told Moneycontrol.

Never received any money from NSEL's profit, says FTIL

Embattled Financial Technologies has told shareholders that it never got any money from NSEL's profit and also cautioned them against vested interests spreading rumours about the government order on merging the bourse with the company.

63 Moons Tech slips 18%, EOW seizes company assets in NSEL scam

The EOW of Mumbai police on Tuesday attached assets of FTIL, under the Maharashtra Protection of Interest of Depositors Act (MPID) Act.

Govt approves NSEL-FTIL merger; FTIL plans to challenge order

The NSEL-FTIL merger was recommended by the erstwhile commodities market regulator FMC. This suggestion was made after the Rs 5,600-crore payment default surfaced on the spot exchange

Merger with FTIL will hamper recovery of Rs 5,600 cr: NSEL

In the wake of the payment crisis, the Corporate Affairs Ministry last year ordered the merger of NSEL with its parent firm FTIL but that has been challenged by the exchange and the matter is now before the Bombay High Court.

NSEL accuses its brokers of hiding their clients' details

The exchange said so far it has received details of only 3,600 investors against a 13,000 who claim to have lost around Rs 5,600 crore in the scam.

FTIL opposes merger of NSEL with itself

In a letter to BSE and NSE, FTIL said its Board is opposed to FMC's recommendations that NSEL be merged with FTIL and the government should take over management of FTIL.

MCA, FinMin divided over NSEL-FTIL merger

Both MCA and the Finance Ministry have been debating over the recommendations submitted by the Forwards Market Commission (FMC) on the NSEL scam

FMC unveils uniform norms for accreditation of warehouses

The draft rules, on which public comments have been sought by September 15, come in the wake of Rs 5,600 crore payment scam at the National Spot Exchange Ltd (NSEL) that surfaced in July last year, exposing loopholes in the system.

FTIL may seek more time to reduce MCX-SX stake

Before the stock exchange was allowed to commence equity-trading operations, FTIL and its sister firm MCX had to commit to reduce their combined stake to a total of 5 percent by January 18, in order to comply with SEBI‘s manner of increasing and maintaining public shareholding (MIMPS) regulations.

No protection to FTIL from HC now, next hearing tomorrow

FTIL and its promoter have filed a petition in the High Court challenging the recent FMC order which ruled that both were not fit to run any stock exchange in the country and asked for reducing its shareholding in MCX to 2 percent.

Board to decide if FT can subscribe to rights issue: MCX-SX

The board of MCX-SX would decide whether it would allow Financial Technologies to subscribe to its rights issue, MCX Vice Chairman Thomas Matthew said. MCX-SX, India‘s third national stock exchange run by MCX, is looking to raise Rs 500-600 crore via the rights issue.

NSEL scam: After MCX, FTIL's MCX-SX control under cloud?

The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to FTIL asking why it should be considered fit to run MCX-SX and not be asked to divest its shares and warrants in the exchange, sources have told CNBC-TV18.

Jignesh Shah biggest beneficiary of NSEL fraud, says FMC

The order follows a probe into the Rs 5500 crore fraud at National Spot Exchange, a subsidiary of Financial Technologies.

NSEL crisis: Over 30 brokers under regulatory scanner

These brokers were apparently working as Carrying and Forward (C&F) agents as well for National Spot Exchange (NSEL) without checking the veracity of commodities lying in the warehouses, and kept investors in the dark about non-availability of commodities on which their clients were taking positions.

Jignesh Shah cannot plead ignorance of NSEL fraud: MMTC

MMTC has filed a case in the High Court against NSEL to recover its dues. MMTC has said that arrested former CEO of NSEL, Anjani Sinha was being made a scapegoat.

EOW to attach immovable assets of Jignesh Shah, Massey

The Mumbai police probing the Rs 5,600-crore payout scam involving the National Spot Exchange Ltd (NSEL), has attached all 166 properties of defaulters it has identified so far and is all set to attach immovable assets of NSEL directors, including Jignesh Shah and Joseph Massey, a senior police officer said here today.