The crisis-hit NSEL is promoted by Jignesh Shah-led Financial Technologies (India) Ltd.
The NSEL scam, involving Rs 5,600 crore, came to light after the now defunct exchange, promoted by Financial Technologies, failed to pay its investors.
Both Corporate Affairs and Finance Ministries are studying the feasibility of implementing the FMC's proposals.
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FTIL group is in big trouble after over Rs 5,500 crore payment crisis surfaced at its subsidiary NSEL last year.
The bourse had proposed to settle all dues amounting to Rs 5,574.31 crore (Rs 55.74 billion) in 30 weeks, according to a settlement schedule issued by NSEL on August 16.
MCX-SX was set up by FTIL and MCX, but they have been now classified as 'public shareholders' as against 'promoters' earlier, pursuant to a Sebi-ordered restructuring of its board and governance structure.
The Securities and Exchange Board of India, on Wednesday, directed Jignesh Shah-led FTIL to sell shares in MCX-SX and other entities within 90 days on the ground that it was not 'fit and proper' to own stakes in any exchange.
Leading stock exchanges BSE and NSE have barred three entities from trading on their platform after they defaulted on dues in connection with Rs 5,600 crore (Rs 56 billion) payment crisis at National Spot Exchange Ltd (NSEL).
Two days after Mumbai Police attached his properties, Jignesh Shah, director of the beleaguered National Spot Exchange Ltd, on Thursday told investigators that he was making "relentless" efforts to recover money from defaulters.
NSEL, promoted by Jignesh Shah-led Financial Technologies (India) Ltd, is facing the problem of settling Rs 5,500 crore.
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.
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The exchanges have observed significant price and volume movement in the scrips of MCX in the recent past.
His comments came in response to a query on whether Securities and Exchange Board of India would be initiating action against MCX-SX which rejigged its board yesterday amid continuing payment crisis at its group firm National Spot Exchange Ltd.
The NSEL chief said the exchange is also seeking the help of the Delhi government.
The cash segment turnover at MCX-SX sharply fell to Rs 624 crore (Rs 6.24 billion) in November from Rs 1,119 crore (Rs 11.19 billion) in October, 2013.
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
Crisis-ridden bourse NSEL defaulted for the 12th straight time today as it could pay only Rs 11 crore to investors against a scheduled payment amount of Rs 174.72 crore (Rs 1.74 billion).
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.
Earlier this month, the CBI registered a Preliminary Enquiry against former Sebi Chairman C B Bhave and ex-member K M Abraham, as also against Jignesh Shah-founded FTIL and MCX, among others.
Crisis-ridden bourse NSEL paid about Rs 9 crore (Rs 90 million) against the scheduled payment amount of Rs 174.72 crore (Rs 1.74 billion), defaulting for the 17th straight time.
I-T dept investigating black money angle; FM hints against bailout for bourse's investors.
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