NSEL Investors Forum to wait till first tranche of payment before taking any action: Media Reports

NSEL Investors Forum to wait till first tranche of payment
Troubles seem to be increasing with each passing day for crisis-hit National Spot Exchange Ltd (NSEL) as the angry investors threaten to take legal action against the company if it fails to pay first tranche of investors' dues by Tuesday this week, according to a media report.

As per a PTI report, the NSEL Investors Forum (NIF) has said that it will wait until Tuesday to see the first tranche of payment to take a final decision forward.

The statement came at a time when NSEL, promoted by Jignesh Shah-headed Financial Technologies India Ltd (FTIL), has been struggling to settle dues worth Rs 5,600 crore after it suspended trade on July 31 following the government direction.

NSEL has on its part said that it will repay all the dues within seven months while the market regulator FMC has expressed concerns over the credibility of accounts and information given by the spot exchange. The issue will also be discussed in parliament this week.

Dion Global Solutions Ltd. 

Story first published: Monday, August 19, 2013, 9:10 [IST]
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