Nsel

NSEL Scam: Sebi Cracks Down On Former Officials Of MCX, FTIL

Press Trust of India | Wednesday August 2, 2017

Thirteen people were prima facie found guilty of averting losses worth Rs 125 crore through insider trading, Sebi said.

NSEL Urges Market Regulator Sebi To Resolve Rs 5,600-Crore Payment Crisis

Press Trust of India | Monday July 31, 2017

Multiple agencies including Sebi, the Directorate of Enforcement (ED) and the Reserve Bank of India (RBI) are probing the irregularities at the now-defunct NSEL.

Sebi Unveils Reform Steps, Briefs Board On NSE, NSEL Matters

Press Trust of India | Saturday February 11, 2017

Besides, the market watchdog asserted that consistent tightening of norms have made the participatory notes less attractive for foreign investors amid persisting concerns over the instrument being used to channel illicit funds.

Economic Offences Wing Arrests 31 Accused In NSEL Scam

Press Trust of India | Tuesday November 29, 2016

The economic offences wing (EOW) of Mumbai Police has arrested 31 accused, including defaulting borrowers and brokers, in the Rs 5,600 crore NSEL scam, the Centre informed Parliament.

NSEL Case: Markets Regulator Sebi Probing Five Commodity Brokers

Press Trust of India | Friday November 18, 2016

Markets regulator Sebi is probing five commodity brokers, including Anand Rathi Commodities and Motilal Oswal Commodities Brokers, for alleged default in the National Spot Exchange (NSEL) payment case, Parliament was informed.

NSEL Money Laundering Case: Enforcement Directorate Attaches Rs 1,170 Crore Assets Of FTIL

Press Trust of India | Friday September 30, 2016

Stepping up action in the Rs 5,600-crore NSEL money laundering case, the Enforcement Directorate attached assets worth Rs 1,170 crore of Financial Technologies India Ltd (FTIL).

Never Received Any Money From NSEL Profit: Financial Tech

Press Trust of India | Sunday September 25, 2016

Embattled Financial Technologies (India) Ltd has told shareholders that it never received any money from National Spot Exchange Ltd's profit and also cautioned them against vested interests spreading rumours about the government order on merging the bourse with the company.

MCX-SX Case: Jignesh Shah Remanded In CBI Custody

Press Trust of India | Wednesday September 21, 2016

A court here on Wednesday remanded Financial Technologies (India) Ltd promoter Jignesh Shah in the CBI's custody till September 26 in connection with a case against him for allegedly suppressing facts to get an extension for stock exchange MCX-SX from market regulator Sebi.

NSEL Scam: Jignesh Shah Granted Bail

Press Trust of India | Saturday August 6, 2016

A special court granted bail to FTIL founder Jignesh Shah, arrested in the Rs 5,600 crore National Spot Exchange Limited (NSEL) scam.

No Immediate Court Relief For Jignesh Shah-Promoted Company

Press Trust of India | Wednesday July 20, 2016

The Bombay High Court on Wednesday rejected the plea of the Jignesh Shah-promoted 63 Moons Technologies Ltd (formerly FTIL) seeking a stay on attachment of its immovable assets worth Rs 2,000 crore by the Economic Offences Wing of Mumbai Police.

Jignesh Shah-Led Firm Objects To Property Attachment By Economic Offences Wing

Press Trust of India | Wednesday July 20, 2016

Jignesh Shah-promoted 63 Moons Technologies said it strongly disapproved the action of Mumbai Police's Economic Offences Wing to attach immovable properties of the company valued at Rs 2,000 crore and will seek legal remedies to protect its shareholders' interest.

NSEL Scam: Jignesh Shah Remanded In Enforcement Directorate Custody

Press Trust of India | Wednesday July 13, 2016

A court here on Wednesday remanded Financial Technologies India Ltd (FTIL) founder Jignesh Shah, arrested in the Rs 5,600-crore National Spot Exchange Limited scam, in the custody of the Enforcement Directorate till July 18.

Jignesh Shah Arrested In Rs 5,600 Crore NSEL Scam Case

Agencies | Wednesday July 13, 2016

The Enforcement Directorate on Tuesday arrested Financial Technologies India Ltd (FTIL) founder Jignesh Shah in connection with its probe into the Rs 5,600-crore National Spot Exchange Limited (NSEL) money laundering scam.

Financial Tech Completes 13% Stake Sale in DGCX

Press Trust of India | Wednesday March 16, 2016

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

Press Trust of India | Tuesday February 16, 2016

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'

Press Trust of India | Sunday February 14, 2016

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

Press Trust of India | Thursday February 11, 2016

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

Press Trust of India | Wednesday January 13, 2016

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

Press Trust of India | Friday June 26, 2015

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

Friday June 19, 2015

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

Wednesday April 15, 2015

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

Sunday April 12, 2015

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

Friday April 10, 2015

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

Tuesday March 31, 2015

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

Wednesday March 18, 2015

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'

Tuesday March 10, 2015

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

Tuesday March 10, 2015

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

Press Trust of India | Wednesday March 4, 2015

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

Press Trust of India | Thursday February 26, 2015

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

Press Trust of India | Wednesday February 25, 2015

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.