The competition for the worst or most perilous 10 years has always been between the 1960s and the 1980s, points out Shekhar Gupta.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
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.
New FMC directives for MDs & CEOs; regulator also wants half the directors on commodity exchange boards to be independent.
MCX Stock Exchange, set up by crisis-hit NSEL's promoters, on Friday appointed Saurabh Sarkar as CEO and announced plans for fresh capital infusion by its existing shareholders among measures to boost business.
The FT stock took a beating, losing 80 per cent in two sessions before recovering. Though in an exchange announcement following the government's missive on July 12, FT identified NSEL as a material subsidiary, rumour mills contemplated two possible transactions: a sale between May 30 and June 30 which had led to the subsidiary becoming an associate and another transaction between June 30 and July 15 when the associate again became a subsidiary.
FMC approves commodity bourse's contract-launch calendar for two years.
About Rs 5,600 crore (Rs 56 billion) of investments of some 13,000 investors are stuck in NSEL. Despite reports from several internal committees of regulators and investigative agencies pointing to fraudulent activities, there hasn't been any substantial enforcement action against the exchange or the officials.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, declined by 11 per cent in 2022 to 3.42 billion Swiss francs (nearly Rs 30,000 crore), annual data from Switzerland's central bank showed on Thursday.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
MCX-SX on Friday said the rights issue would now close on April 17.
To ensure faster recovery of dues for entities hit by the Rs 5,600-crore (Rs 56-billion) fraud at NSEL, the government last month ordered the merger of the bourse with its parent firm Financial Technologies (India) Ltd.
The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore (Rs 56 billion) payment default by National Spot Exchange Limited (NSEL) saying it would "hamper the process of investigation or apprehension of offenders".
'Not one single country, anywhere in the world, is corruption-free,' the report said.
According to the police, a Special Task Force team retaliated when the gangster, recently released from prison on bail, opened fire at them after being cornered. His car had crashed into a pole.
The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors. Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite. Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
They are followed by Shenzhen SE, NYSE and Shanghai SE, as per an analysis of data compiled by the World Federation of Exchanges
Though they have more than one legal option to recover dues, till NSEL has funds, little can be done.
Currently, most crowdfunding platforms neither operate with proper authorisation nor are governed under any law.
After defaulting for a consecutive time in paying its investors, National Spot Exchange Ltd (NSEL) got a Rs 177-crore (Rs 1.77 billion) lifeline from its main promoter, Jignesh Shah-run Financial Technologies.
Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
A Delhi University alumnus with an MBA in finance and a doctorate, Vaish started his career as a banker in 1984, became an academician a few years later and joined the capital market in 1998.
According to the data, the tiger population in the country increased from 2,967 in 2018 to 3,167 in 2022.
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
The stock market watchdog had said any adverse findings by other regulators might have a bearing on the exchange.
Shah is likely to be released later on Friday evening or Saturday after completing the formalities.
The investors write to new finance minister; say refunds, not arrests, their priority.
Modi had released the first batch of eight eight spotted felines -- five females and three males -- from Namibia into a quarantine enclosure at Kuno on his 72nd birthday on September 17 last year.
It's one of life's many wonders until God's priceless creation stops walking on Earth for good.
Here are 15 things that would have made 2015 a great year.
They induced HNIs to trade on spot market commodity exchange with promise of high returns.
Kotak Mahindra Bank has decided to buy a 15 per cent stake in Multi Commodity Exchange (MCX) for Rs 459 crore from Financial Technologies India (FTIL).
The eastern theatre command of the Chinese People's Liberation Army successfully completed all tasks of its combat readiness patrols and exercises around Taiwan Island, official media in Beijing reported.
Exchange used new investors' money to pay returns to old ones, finds FMC's forensic audit.
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Ledger entries in NSEL books show no record of T+2 leg of the paired trades with borrowers.
If this sporting clash was, as English essayist, novelist and journalist George Orwell said, "war minus the shooting" both sets of players were more than ready, and set about each other with little restraint.
Exchange to reply to FMC's letter soon, CEO says buyers can't be declared defaulters where there is 'market disruption'.
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.
Chinese nationals teaching Mandarin in different parts of Pakistan have left for home after being called back by Beijing following the recent deadly attacks targeting them, an official of the Karachi University said on Monday.
In yet another setback to it, the National Spot Exchange Ltd on Monday saw non-executive chairman Shankarlal Guru and another director quit, blaming 'bad people' in the management team for the crisis at NSEL.
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