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NSEL Scam: Commodity Arms Of Motilal Oswal, IIFL Declared 'Not Fit And Proper' By SEBI

The Securities and Exchange Board of India (SEBI) in two separate orders have declared commodity brokerage arms of Motilal Oswal and IIFL (India Infoline) among others as 'not fit and proper' in its action in the NSEL (National Spot Exchange Limited) ...

Difference Between National Stock Exchange And National Spot Exchange?

The National Stock Exchange and the National Spot Exchange are two exchanges that are totally different from each other. More popularly they are known as the NSE and NSEL respectively. Difference between NSE (National Stock Exchange) and NSEL (National Spot Exchange) ...

Govt Orders Merger of Fraud-hit NSEL with Parent Firm FTIL

New Delhi: To ensure speedy recovery of dues for investors and others hit by Rs 5,600-crore "fraud" at the National Spot Exchange Ltd, the government on Tuesday ordered merger of the scam-hit firm with its holding company FTIL. The decision, ...

NSEL Scam: Two Top Honchos of Defaulting Firms Arrested

Mumbai Police today arrested two top honchos of different defaulting companies, which collectively owe over Rs 1,000 crore to the crisis-hit NSEL. "Gagan Suri, one of the directors of Yathuri Associates, was apprehended from Chandigarh, while Ranjeev Agarwal, promoter of ...

ED attaches Rs 75 cr assets in NSEL scam case

The Enforcement Directorate (ED) has attached an estimated Rs 75 crore assets of a borrower company and its associates in connection with money laundering probe in the National Spot Exchange Limited (NSEL) scam case. This is the first attachment order ...

NCDEX to impose Rs 1 lac/case penalty on members offering PMS

Leading agri-commodity bourse NCDEX today said it will impose a penalty of Rs 1 lakh per case on members who are found indulging in offering fund-based portfolio management services (PMS). The exchange has issued a circular in this regard following ...

NSEL fraud: Peons, guards were directors at defaulting firms

Mumbai: At least two of the 27 companies that defaulted in making payments to the beleaguered National Spot Exchange (NSEL) were found to have appointed peons and security guards as "dummy" directors, said an official involved in the probe into Rs ...

Economic Offences Wing finds half of NSEL warehouses empty

MUMBAI: In a startling development, the Economic Offences Wing (EOW) of Mumbai police, probing the Rs 5,600-crore payment crisis at the NSEL, has found half of the warehouses it raided empty, while four storage building of commodities existed only on paper, ...

No pay-in, pay-out in E-gold, E-silver on October 3-4, says NSEL

NEW DELHI: Following Bombay High Court directions, crisis-hit spot exchange NSEL said it will not make pay-in and pay-out for redemption of e-series contracts covering gold and silver during October 3-4. On September 27, NSEL has announced a faster route ...

NSEL probe: MCA expects financial reports from RoC in few weeks

New Delhi: Corporate Affairs Minister Sachin Pilot on Monday said he is expecting financial reports and other details from Registrar of Companies on crisis-ridden NSEL's parent firm FT group and other related entities in few weeks. Asked about the probe ...

Financial Intelligence Unit begins probe in NSEL crisis

NEW DELHI: 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. The FIU, under the ...

MCA widens NSEL probe; seeks details of related entities

NEW DELHI: Widening its probe into the NSEL matter, the Corporate Affairs Ministry has sought financial reports and other details from the spot exchange's parent firm FT Group and other related entities. National Spot Exchange Ltd (NSEL), promoted by Jignesh ...

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