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The government asked the NSEL to become a responsible guarantor to the Rs 5,600-crore (Rs 56-billion) dues to investors and meet its commitments.
Exchange-traded currency derivatives volumes are likely to drop in view of new Reserve Bank of India (RBI) rules, casting a cloud over further participation of retail investors and proprietary traders. There are concerns that existing positions without any underlying exposure will need to be liquidated. Also, weighed down by dollar demand from local oil companies and weakness in its Asian peers, the rupee on Wednesday (April 3) ended at a new closing low of 83.44 versus the US currency.
'It feels like Assam is good just as a tourist spot and not a place to earn and live.'
Shah came under scanner last year, when his group company NSEL faced a payment crisis and nearly 18,000 investors allegedly lost millions in late July.
Manoj Vaish on Saturday took charge as Managing Director and CEO of the country's leading commodity exchange MCX that is under the regulatory glare following troubles at the promoter group.
Substitute Roman Yaremchuk kept Ukraine in Euro 2024 contention with a goal 10 minutes from time to beat a shell-shocked Slovakia 2-1 on Friday
Sebi filed a criminal complaint against the brokers with the economic offences wing, which on Friday registered a case under the Forward Contract Regulation Act 1952.
The court, later in the day, allowed his application.
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.
A sojourn in Seoul, one of Asia's largest metropolises, where the ultra-modern coexists with the ancient -- temples and palaces with futuristic skyscrapers climbing to the stratosphere, K-pop with Buddhism, a village within city limits.
The crisis-hit NSEL is promoted by Jignesh Shah-led Financial Technologies (India) Ltd.
Both Corporate Affairs and Finance Ministries are studying the feasibility of implementing the FMC's proposals.
'One of the aspects for transparency and fair governance is to give the industry being represented the chance of lobbying with the regulator.'
According to an ED order, the agency has seized movable and immovable properties of the firm -- Ms N K Proteins -- in Mumbai, Noida, Ahmedabad and Palanpur in Gujarat under the criminal provisions of the Prevention of Money Laundering Act.
Around 200 brokers are said to be involved in the scam; they have been summoned for questioning. Major brokerages questioned by the EoW so far include Anand Rathi, Motilal Oswal, India Infoline and Geojit Comtrade.
The Border Security Forces troops on Sunday foiled a pre-dawn infiltration bid by suspected militants in Ramgarh in Samba district on the Indo-Pak border in Jammu and Kashmir after a heavy exchange of fire with the ultras, prompting India to lodge a protest with the neighbouring nation over the incident.
In a first for India, bullion derivatives contracts will be settled on a blockchain platform. This will help in global acceptance of gold refined by Indian bullion refineries, giving a fillip to the local industry, exports, as well as investments. From November 1, the National Stock Exchange (NSE) will accept gold delivery only on the blockchain platform.
The investigators have already served summons to Shah and others directing them to appear before them for questioning.
The sessions court on Thursday extended the police custody of the Financial Technologies and Multi Commodities Exchange (MCX) promoter Jignesh Shah and former managing director and chief executive of the commodity exchange Shreekant Javalgekar till May 19.
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).
BSE proposes two models for making gold trading and investment transparent
NSEL, promoted by Jignesh Shah-led Financial Technologies (India) Ltd, is facing the problem of settling Rs 5,500 crore.
NSEL scam: Brokers of IIFL, Anand Rathi, Geojit arrested.
India's tennis campaign at the Paris Olympics lasted just a day as Sumit Nagal and the men's doubles pair of Rohan Bopanna and N Sriram Balaji bowed out after losing their respective opening matches to French challengers in Paris Sunday.
'Why is the Congress not tendering an unconditional apology to the citizens of India?'
Images from the athletics action at Stade de France, Saint-Denis, Paris, on Friday.
Hong Kong has regained its spot as the world's fourth-largest market following a broad market rout in Indian equities. Currently, the Chinese territory's market capitalisation stands at $4.9 trillion versus India's $4.75 trillion, according to data compiled by Bloomberg. In January, the domestic equity markets' market capitalisation had surpassed that of Hong Kong following a spectacular rally in the small- and midcap stocks.
Allegations of a particular market player being favoured over others were flying thick and fast in the early days of the scam.
The NSEL chief said the exchange is also seeking the help of the Delhi government.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
In terms of value, this translates into more than Rs 300 crore (Rs 3 billion) of delivered quantity.
Indian men's team failed to defend its title after going down fighting 1-3 to China
Chidambaram said NSEL was not a registered or recognised association under the FMC but got exemption even before it started its business.
The board of directors at its meeting held on October 22, approved the said appointments, the exchange said in a regulatory filing on Wednesday.
Chokshi and Chokshi, which was given December-end deadline to complete the audit of e-series contracts at NSEL, had sought extension to finish the work.
A special audit will look into any pricing anomalies in the transactions between the two, according to a source. FTIL had a contract for helping the exchange with its technology needs.
In the interview to Business Standard last week, Chary had stated that the government's proposal to merge was unwarranted and that FTIL shareholders did not benefit from higher dividends from NSEL.
MCX said it has no exposure to crisis-hit NSEL, which has to settle dues worth Rs 5,600 crore to investors after it suspended trading.
Nitish Kumar's Janata Dal-United on Sunday exuded confidence that its national president, who was sworn in as Bihar CM for a record ninth time after forming a new government with the Bharatiya Janata Party, will win Monday's trust vote.
Jignesh Shah, the promoter of Financial Technologies India Ltd, on Wednesday resigned from the board of MCX Stock Exchange, amid continuing Rs 5,600 crore (Rs 56 billion) payment crisis at group company NSEL.
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