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SEBI relaxes norms for FTIL to divest stake in MCX
To facilitate divestment by erstwhile promoters of MCX, SEBI has relaxed lock in period for such stake sale in the commodity bourse. SEBI has allowed Financial Technologies to bring down its stake to 1.99 per cent in MCX. The ...
Govt allows deduction of CTT as part of business income
NEW DELHI: In a relief to commodity exchanges, the government has allowed deduction of Commodity Transaction Tax (CTT) to traders as it forms part of their business income. The move will benefit Multi Commodity Exchange of India (MCX), National Commodity ...
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 ...
ICAI begins scrutiny of FTIL, NSEL issues
New Delhi: With the auditors withdrawing their audit report on crisis-hit NSEL's promoter Financial Technologies, the accounting watchdog ICAI has begun looking into the matter and has sought all available details from the concerned stakeholders. "There are certain provisions in ...
‘Systematic failure’ in NSEL functioning: Mayaram panel
New Delhi: The high-level panel on alleged irregularities at NSEL Monday submitted to the Finance Minister its report which is believed to have pointed out certain 'minor systemic' failures in the functioning of the exchange. The report details long term ...
Government panel finds 'minor systemic failure' at NSEL
NEW DELHI: The high-level panel, headed by Economic Affairs Secretary Arvind Mayaram, has found "minor systemic" failure at the National Spot Exchange Ltd that is grappling with Rs 5,500 crore payment crisis. The final report is likely to be submitted ...
Govt may consider Sebi like regulations for commodities market
NEW DELHI: As a multi-agency probe continues into the Rs 5,600-crore payment crisis at National Spot Exchange Ltd (NSEL), the government may consider streamlining the norms for commodities and capital markets, regulated by FMC and Sebi, respectively, to plug potential regulatory ...
What is Forwards Markets Commission or FMC and its role?
Forwards Market Commission is an entity monitoring and regulating the operations and activities of commodities futures market in India. The institution with headquarters in Mumbai was set-up as a statutory body in the year 1953 as per the Forward Contracts ...
Will honour commitments, assures NSEL
Mumbai: The troubled bourse National Spot Exchange Ltd (NSEL) Wednesday assured its investors that it will honour all commitments. NSEL, promoted by Jignesh Shah-led Financial Technologies (India) Ltd, is facing the problem of settling dues worth Rs 5,500 crore to ...
FMC asks NSEL to liquidate assets of defaulters
New Delhi: Commodity markets regulator FMC on Thursday directed NSEL to declare members, who have failed in making payments, as defaulters and liquidate all their realisable assets. The regulator also asked NSEL to auction defaulters' commodities lying in the accredited ...
NSEL giving wrong info, says FMC; govt mulling stock audit
New Delhi: The NSEL affair got murkier Monday as regulator FMC cast doubts on its management and charged that the crisis-ridden spot exchange is not complying with its directions and providing wrong information in the case involving Rs 5,600 crore dues ...
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