Nsel News


'Nsel' - 346 News Result(s)

  • Financial Tech Completes 13% Stake Sale in DGCX

    Financial Tech Completes 13% Stake Sale in DGCX

    Financial Technologies on Wednesday said it has exited from Dubai Gold and Commodities Exchange (DGCX) by selling its 13 per cent stake in the bourse to Dubai Multi Commodities Centre (DMCC).

  • Court Extends Stay to Merger of NSEL, Financial Tech

    Court Extends Stay to Merger of NSEL, Financial Tech

    The Bombay High Court on Tuesday extended till March 31 stay to implementation of merger between National Spot Exchange Ltd (NSEL) and Financial Technologies (India) Ltd (FTIL).

  • Financial Tech-NSEL Merger: Government Says 96% Objections 'Orchestrated'

    Financial Tech-NSEL Merger: Government Says 96% Objections 'Orchestrated'

    As a face-off continues between Jignesh Shah-led Financial Technologies India Ltd (FTIL) and the Corporate Affairs Ministry over the company's merger with National Stop Exchange Ltd (NSEL), the government in its final order has said that over 96 per cent of the objections received on the proposed amalgamation prima-facie were "orchestrated and conc...

  • NSEL Crisis: Centre Asks Sebi to Act Against Defaulting Brokers

    NSEL Crisis: Centre Asks Sebi to Act Against Defaulting Brokers

    Seeking to expedite recovery of money in the Rs 5,574-crore NSEL payment crisis, the government on Thursday decided to take immediate steps for auction of non-encumbered properties and also asked markets regulator Sebi to initiate action against defaulting brokers.

  • NSEL 'Recovers' Rs 1,233 Crore from 23 Traders

    NSEL 'Recovers' Rs 1,233 Crore from 23 Traders

    The crisis-hit National Spot Exchange (NSEL) has claimed that it has secured recoveries worth Rs 1,233.02 crore from 23 defaulters who owe a total amount of Rs 4,515.93 crore.

  • FTIL Begins Process to Sell 23% Stake in MCX-SX Clearing Corporation

    FTIL Begins Process to Sell 23% Stake in MCX-SX Clearing Corporation

    Financial Technologies India Ltd (FTIL) has begun the process of selling its 23 per cent stake in MCX-SX Clearing Corporation Ltd (MCX-SX CCL) in order to comply with a Securities and Exchange Board of India order.

  • FTIL Signs Pact to Sell 16.6% Stake in IEX for Rs 357 Cr

    FTIL Signs Pact to Sell 16.6% Stake in IEX for Rs 357 Cr

    Financial Technologies India Ltd (FTIL) on Friday said it has entered into a new share purchase agreement with four companies to sell a 16.6 per cent stake in Indian Energy Exchange Ltd (IEX) for Rs 357.06 crore.

  • Exit From MCX-SX Complete: Financial Tech

    Exit From MCX-SX Complete: Financial Tech

    Crisis-hit Financial Technologies India Ltd (FTIL) on Wednesday said it has completed the sale of its entire 5 per cent stake in MCX-SX for nearly Rs 89 crore, thus exiting the bourse.

  • Assocham Lobbies Against NSEL Merger With Parent Firm

    Assocham Lobbies Against NSEL Merger With Parent Firm

    Opposing the proposed merger of crisis-hit National Spot Exchange Ltd (NSEL) with its parent Financial Technologies India Ltd (FTIL), industry body Assocham has said that a company cannot be held liable for "any alleged liability" of a subsidiary.

  • FTIL-NSEL Swap Ratio Finalised; NAFED to Get 38 Shares

    FTIL-NSEL Swap Ratio Finalised; NAFED to Get 38 Shares

    The swap ratio has been decided after considering the fair value of NSEL at Rs 77 a share and the calculation was based on latest audited financial statements of the bourse as on March 31, 2012.

  • FTIL Offers Rs 1000 Cr Settlement Plan; Brokers Reject

    FTIL Offers Rs 1000 Cr Settlement Plan; Brokers Reject

    Financial Technologies India Ltd (FTIL) on Tuesday said it has submitted to the government a Rs 1,000-crore settlement plan, including Rs 500 crore to be contributed by brokers, to clear the claims of small and mid-sized investors on scam-hit National Spot Exchange Ltd (NSEL).

  • NSEL Says Brokers Hiding Client Details

    NSEL Says Brokers Hiding Client Details

    The crippled National Spot Exchange Ltd (NSEL) on Wednesday accused the brokers of not providing investor details, and said going by the number of details it got so far the total number of investors who have claimed to have lost money looked bogus.

  • Most Shareholders Oppose Proposed Merger of NSEL with FTIL'

    Most Shareholders Oppose Proposed Merger of NSEL with FTIL'

    The government in October last year had ordered merger of National Spot Exchange Ltd (NSEL) with its parent firm Financial Technology India Ltd (FTIL).

  • NSEL Launches Campaign to Clear the Air Over Payment Crisis

    NSEL Launches Campaign to Clear the Air Over Payment Crisis

    Seeking "fair chance" to explain its stand, NSEL in two volume book titled "Truth about NSEL" attempts to clear the air around its promoter firm, Financial Technologies (FTIL) and how its new board is attempting to recover and rebuild the exchange.

  • NSEL Scam: Top Commodity Brokerages' Officials Held

    NSEL Scam: Top Commodity Brokerages' Officials Held

    Cracking down on commodity brokerages for their alleged role in the Rs 5,600-crore scam at National Spot Exchange Ltd (NSEL), Mumbai Police on Tuesday arrested three top executives of leading broking houses.

  • Financial Technologies Asks Shareholders to Oppose NSEL Merger

    Financial Technologies Asks Shareholders to Oppose NSEL Merger

    The government, in October last year, had ordered the merger of NSEL with its parent firm Financial Technologies (India) Ltd.

  • Court Refuses Relief to NK Proteins in NSEL Case

    Court Refuses Relief to NK Proteins in NSEL Case

    The Gujarat High Court has refused to entertain petitions challenging Mumbai Police's notices for attachment of properties of NK Proteins in Gujarat in connection with the Rs 5,600-crore National Spot Exchange Limited (NSEL) scam.

  • NSEL Case: High Court Asks Mohan India to Declare Assets

    NSEL Case: High Court Asks Mohan India to Declare Assets

    Hearing a suit filed by National Spot Exchange Ltd, the Bombay High Court on Tuesday asked one of its defaulters, M/s Mohan India Group, and its directors to disclose all their properties within four weeks.

  • High Court Orders Status Quo to Proposed Merger of FTIL with NSEL

    High Court Orders Status Quo to Proposed Merger of FTIL with NSEL

    The order was passed by a division bench of Justice V M Kanade and Anuja Prabhudesai while hearing a petition filed by FTIL challenging the proposed merger.

  • FTIL Shares Up Nearly 8% on MCX Stake Sale

    FTIL Shares Up Nearly 8% on MCX Stake Sale

    FTIL has been in trouble ever since the Rs 5,600 crore payment scam surfaced at group firm NSEL in July last year.

  • NSEL-Financial Tech Merger After Stakeholders' Suggestions: Corporate Affairs Minister

    NSEL-Financial Tech Merger After Stakeholders' Suggestions: Corporate Affairs Minister

    Scam-hit National Spot Exchange Ltd's merger with parent firm Financial Technologies India Ltd (FTIL) will be done after considering suggestions from stakeholders, the government said on Tuesday.

  • FTIL Signs Pact to Sell Mauritius-Based Bourse for Rs 250 Crore

    FTIL Signs Pact to Sell Mauritius-Based Bourse for Rs 250 Crore

    FTIL decided to exit the exchange business and focus on its core technology business after the Rs 5,600 crore scam surfaced at its Indian subsidiary NSEL last year.

  • Minority Shareholders Oppose NSEL Merger With Financial Tech: Report

    Minority Shareholders Oppose NSEL Merger With Financial Tech: Report

    Some minority shareholders of Financial Technologies India Ltd (FTIL) have raised objections to the proposed merger of the scam-hit National Spot Exchange Ltd (NSEL) with the company.

  • Financial Tech Expands Board, to Carve Out New Firm for Flagship Product

    Financial Tech Expands Board, to Carve Out New Firm for Flagship Product

    Facing a government-ordered merger of the crisis hit National Spot Exchange Ltd (NSEL) with itself, Financial Technologies India Ltd (FTIL) on Friday announced spinning off a key revenue-generating trading software product into a separate subsidiary as part of a major restructuring exercise.

  • Financial Tech in Pact to Exit IEX by Selling Stake for Rs 576 Crore

    Financial Tech in Pact to Exit IEX by Selling Stake for Rs 576 Crore

    Financial Technologies India Ltd (FTIL) said on Wednesday that it will fully exit IEX by selling its entire stake to a clutch of investors for Rs 576.84 crore.

  • After NSEL Scam, Government Withdraws Waiver Given to Spot Bourses

    After NSEL Scam, Government Withdraws Waiver Given to Spot Bourses

    Wiser after the Rs 5,600-crore scam at National Spot Exchange Ltd (NSEL), the government on Wednesday withdrew exemption granted to all spot commodity bourses for launching one-day forward contracts in agri and non-agri items with immediate effect.

  • NSEL Crisis: Government Mulls Board Changes for Merged Entity, Says Report

    NSEL Crisis: Government Mulls Board Changes for Merged Entity, Says Report

    NSEL Crisis: Government Mulls Board Changes for Merged Entity, Says Report

  • Financial Technologies Crashes 20% Again, Recovers

    Financial Technologies Crashes 20% Again, Recovers

    Financial Technologies owned 99.9 per cent in commodities exchange NSEL, which shut down last year after defaulting on obligations to counter-parties amounting to around Rs 5,500 crore. NSEL has since faced legal cases from traders in the exchange after failing to settle outstanding contracts.

  • NSEL Scam: Two Top Honchos of Defaulting Firms Arrested

    NSEL Scam: Two Top Honchos of Defaulting Firms Arrested

    Mumbai Police on Tuesday arrested two top honchos of different defaulting companies, which collectively owe over Rs 1,000 crore to the crisis-hit National Spot Exchange Ltd (NSEL).

  • Financial Tech May Have to Absorb Over Rs 5,200-Crore NSEL Liabilities

    Financial Tech May Have to Absorb Over Rs 5,200-Crore NSEL Liabilities

    With the government ordering the merger of National Spot Exchange Ltd (NSEL) with Financial Tech India Ltd (FTIL), the parent firm might have to absorb huge liabilities including over Rs 5,200 crore payment dues to clean up the mess at the scam-hit bourse.

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