A more informed electorate, rather than the Lokpal, can fight corruption better, argues Neeta Kolhatkar.
Exchange used new investors' money to pay returns to old ones, finds FMC's forensic audit.
.jpg)
Ledger entries in NSEL books show no record of T+2 leg of the paired trades with borrowers.
Against varying claims its SGF ranged from Rs 839 crore (Rs 8.39 billion) to Rs 62 crore (Rs 620 million), between July 29 and August 14, the bourse had Rs 84.66 lakh (Rs 8.46 million) in the actual SGF.
Brokers have only kept guarantees for which they have open positions.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
The finance ministry and several agencies under it such as the Securities and Exchange Board of India (Sebi) and the Enforcement Directorate (ED), which are investigating the affairs of Sahara India Parivar, are worried about its exposure to National Spot Exchange Ltd (NSEL) products.
Exchange to reply to FMC's letter soon, CEO says buyers can't be declared defaulters where there is 'market disruption'.
They induced HNIs to trade on spot market commodity exchange with promise of high returns.
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
Negotiations on with three brokers holding 5% of about Rs 5,500-crore (Rs 55 billion) overall dues
Lack of consensus on 'how not to let Jignesh Shah get away' could become a huge embarrassment for the government.
Investor forum wants govt to take over exchange, raises doubts on claims of matching stocks; NSEL says default by brokers to be dealt with legally.
Action against auditors, last of the 276 recommendations of a JPC probing Ketan Parekh scam, is still pending.
Case relates to alleged irregularities in '08 sanction to MCX-SX; Shah grilled in NSEL case.
Commodity futures market's dream run came to a halt in 2013 as a Rs 5,600 crore scam in Jignesh Shah-led spot exchange NSEL and imposition of transaction tax on non-farm items hampered the growth of business, with turnover estimated to dip by 30 per cent to Rs 125 lakh crore.
After National Spot Exchange Ltd (NSEL) this week suspended trading in forward contracts, the Forward Markets Commission (FMC), the commodities market regulator, on Friday sought to allay fears over the exchange defaulting on open contracts.
A much-vacant mall in a sleepy industrial park is all that's left of the amount allegedly owed by Mangla Shree Properties against 0.2-mt sugar deliveries
I-T dept investigating black money angle; FM hints against bailout for bourse's investors.
Few top honchos of India Inc did very well in 2014.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances