Nsel's rs 5,574 crore payment crisis: govt asks sebi to act against defaulting brokers - the meeting reviewed the action taken and progress made on the recommendations made by the special team of secretaries (sts) to ensure that there is no systemic impact of the nsel crisis. Nsel crisis shows you must be careful with financial products that promise high returns with little risk. Nsel crisis latest news and updates, special reports, videos & photos of nsel crisis on india tv articles on nsel crisis, complete coverage on nsel crisis.
1) what is nsel national spot exchange limited has been in news recently for the rs 5600 crore payment crisis nsel is a spot exchange which was established in the year 2005. After resigning as vice-chairman of mcx on 31 october 2013, shah said in a statement, “the nsel crisis has destroyed everything that i have worked hard to build over past two decades my loss is not just financial but what has hurt me and my family most is the concerted effort to destroy my credibility and trust for which i have lived by all . Briefing paper 1 madhyam the nsel payment crisis: the price of poor regulation and supervision rs 5,600 crore appears to be a small amount in scam-ridden india where scams of rs 40,000 crore are. National spot exchange limited- crisis commodity market it’s a commodity exchange that is regulated by the state to allow sellers and buyers to trade in specified commodities like grains, oils, metals and livestock.
The nsel scam and history: what follows is capital mind’s coverage of the national spot exchange limited (nsel) crisis that involved payment default of over rs 5,500 cr which has flummoxed the indian financial system. As a responsible corporate entity, we have been constantly striving to resolve the #nsel payment default crisisour continuous efforts have helped agencies attach the assets of defaulters 1/3 @pmoindia @dev_fadnavis @piyushgoyal @arunjaitley @finminindia @bjpshivpshukla @dir_ed. Crisis-hit national spot exchange (nsel), which is being probed several agencies for rs 5,600 crore alleged scam, tuesday said vested interests are trying to scuttle its proposed settlement plan to resolve this issue. The root of the crisis lies in the long-dated contracts offered by nsel that along with spot contracts facilitated financing of commodity producers while offering 15-16% annualised returns to the investors or lenders.
The punjab and haryana high court has dismissed a clutch of petitions filed by loil group and white water foods pvt ltd challenging the attachment of their properties under the maharashtra . With the arrest of former nsel md & ceo anjani sinha, and the authorities invoking the stringent maharashtra protection of interest of depositors (in financial establishments) act, the endgame in . Police attached properties of directors jignesh shah, joseph massey, nsel non-executive chairman shankarlal guru, and former md of mcx shreekant javalgekar two days after mumbai police attached his properties, jignesh shah, director of the beleaguered national spot exchange ltd, today told . Terming the recent payment crisis in national spot exchange limited as a “new scam”, bjp today asked the government in rajya sabha as to what steps it was taking to address the concern of . Over the past one month, the investing community was stunned by a severe payment crisis in the national spot exchange of india (nsel), an electronic trading platform where producers and traders .
New delhi: jignesh shah, who is embroiled in the rs 5,600-crore payment imbroglio at nsel, today resigned as non-executive vice chairman of mcx and said this crisis has destroyed everything he . For three years from june 2007 when it received permission from the ministry of consumer affairs to commence spot trading in commodities, the national spot exchange ltd (nsel) struggled to attract . Crisis management fact sheet nsel swung into immediate action, to take a series of measures, once it came into a crisis in addition to extending complete support and cooperation to the government, regulatory.
Bold steps by maha cm and minister of state for finance to alleviate the pain of small investors in nsel. The bombay high court last month upheld the nsel-ftil merger while dismissing the plea against the ministry of corporate affairs’s (mca) merger order now, 63 moons, formerly ftil, says it would move the apex court citing the ‘devastating’ impact of this merger. Dejargoning -- the nsel crisis -- another instance of how the law lets the market crooks get away scot free 1 ) what is a spot exchange it is an electronic version of the age-old mandi, where buyers and sellers meet to exchange goods and money. Nif nsel investors forum, mumbai, maharashtra, india 23k likes nsel investors forum (nif).
Recently the national spot exchange ltd (nsel) has come under flak for the way it has sought to handle the crisis-situation market pundits are of the view that in emergency situations such as this, the practice is to give buyers and sellers sufficient time to sell-out or buy-in their outstanding positions. Nsel,a bourse owned by mcx promoter ftil,is facing payment settlement problems. Nsel crisis latest breaking news, pictures, videos, and special reports from the economic times nsel crisis blogs, comments and archive news on economictimescom.