The Economic Offences Wing of Mumbai Police on arrested former managing director and chief executive of the beleaguered National Spot Exchange (NSEL) Anjani Sinha.
This is the second such notice to the spot commodity exchange promoted by Financial Technologies India Ltd. A similar notice had been issued to the NSEL by the Consumer Affairs Ministry in 2012.
Only time will tell, if the 'Shah' of exchanges will walk out of this battlefield unscathed.
Financial Technologies India Ltd (FTIL) promoter Jignesh Shah, whose 'fit-and-proper' status to run an exchange has been under regulatory scrutiny following the Rs 5,600-crore payment fraud at NSEL, on Tuesday decided to continue as a director of group firm Multi Commodity Exchange (MCX).
A new study examines the the link between asthma and infertility.
The crisis-hit NSEL is promoted by Jignesh Shah-led Financial Technologies (India) Ltd.
Realty, consumer durables, capital goods lead losses, Broader markets underperform.
The Mumbai Police, probing the Rs 5,600-crore (Rs 56 billion) scam at the National Spot Exchange has initiated the process of attaching about 25 immovable assets of the borrowers and has shortlisted nearly 100 properties of all the accused in the case, a senior police official said.
Statistical highlights of the Indian Premier League match between Chennai Super Kings and Royal Challengers Bangalore held in Chennai on Saturday.
Lower returns seen drying up investor demand this financial year
Cash-rich IT giant Infosys slashed its exposure to liquid mutual funds by a whopping Rs 5,600 crore (over $1 billion) during the first quarter of 2013, as yields on such investments are expected to flatten.
Broader markets outperformed.
'In our ICUs, the majority are unvaccinated people.' 'Out of the hospital, in the community, we see that -- whether you are vaccinated or whether you're not vaccinated -- the symptoms are more or less the same.'
Star India batsman K L Rahul believes the suspension that followed his unsavoury comments about women on a TV show last year completely changed his thought process about his game, resulting in consistent performances. Rahul said the suspension made him realise how short a cricketer's shelf life is and he decided to channelise all his energies in the right direction.
The Rs 5,600-crore (Rs 56 billion) NSEL scam could have been averted had its top management and other functionaries "performed their duties and exercised due diligence" to check the dubious activities of defaulting firms which have been alleged to have cheated numerous investors, investigation by Enforcement Directorate (ED) has revealed.
The Ministry of Corporate Affairs ordered the inspection of the books of accounts of NSEL and Financial Technologies India Ltd to ascertain if any rules under the Companies Act were violated, a senior official said.
The RBI view comes within a fortnight of the sectoral regulator FMC in a report stating that the promoter Shah and promoter company Financial Technologies are not eligible to run the crippled exchange, an order challenged by the group in the Bombay High Court.
'We need an early warning system in India.'
Large states like Andhra, Chhattisgarh, Gujarat, Himachal, MP, Odisha, Punjab and Tamil Nadu would need compensation from the Centre
The Power Ministry plans to impose huge penalties of over Rs 1 lakh per day on industries that fail to achieve energy efficiency targets under the three-year Perform, Achieve and Trade (PAT) programme starting April 1.
Nifty crossed the 5,600 mark and finally ended at 5,564 -- up 42 points.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
This facility, initially, will be available at select ATMs in the major centres.
Significantly, the Nifty crossed the 5600 barrier for the first time in 31 months.
NSE Nifty extended its rally and ended at 5,600 - up 55 points.
The average fall in 15 most-invested stocks by equity MFs was 5.7 per cent. Chandan Kishore Kant reports
India on Thursday wrapped up its air evacuation operations from Yemen rescuing another 630 of its citizens from Sanaa, taking the total number of Indians brought home from the war-ravaged country to over 4,640 besides around 960 nationals from 41 countries.
In the first arrest in the NSEL's Rs 5,600 crore (Rs 56 billion) payout scam, a top official of the beleaguered spot commodity bourse, which defaulted on its payment for the eighth time in a row yesterday, was held on Wednesday by Mumbai police's Economic Offence Wing (EOW).
And it happens in Nagaland.
Companies that made expensive overseas acquisitions lead the way in driving cost efficiencies.
Normal life remained disrupted for the 24th consecutive day due to the strike call given by separatists against civilian deaths during the protests.
In September 2013, FMC was brought under the Finance Ministry.
Reliance Energy on Thursday said it will invest more than Rs 20,000 crore (Rs 200 billion) for setting up the Dadri power plant in Uttar Pradesh.
While aid pours in at various relief camps close to cities, those operating in remote areas are reportedly facing difficulty in getting essential supplies.
When it comes to getting physically intimate, foreplay is just a start; it's what comes after sex that matters most to women, according to a new study.
The FMC on Thursday barred the National Spot Exchange and group firms from auctions of commodities held by the bourse after a complaint that firms related to the former managing director took part in the bidding process.
ED lawyer Hiten Venegaonkar contended that huge amount of money was laundered and Shah's acts constituted a very serious economic offence
The court, later in the day, allowed his application.
