Though they have more than one legal option to recover dues, till NSEL has funds, little can be done.
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.
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.
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Ledger entries in NSEL books show no record of T+2 leg of the paired trades with borrowers.
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.
Given the nature of the money stuck, investors are fast losing patience with the exchange.
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.
Department seeks investor database on the suspicion of fictitious investors.
Shah and Javalgekar were arrested on May 7.
The prime accused deployed a modus operandi of claiming the investment in real estate purchased in the name of third party as unsecured loan
Crisis-ridden National Spot Exchange Ltd (NSEL) on Wednesday said its Delhi-based member Mohan India Ltd has agreed to pay to the exchange about Rs 771 crore (Rs 7.71 billion) in final settlement over the next one year.
FTIL prepares to challenge the order in the Bombay high court
The investors write to new finance minister; say refunds, not arrests, their priority.
NSEL scam: Brokers of IIFL, Anand Rathi, Geojit arrested.
Lack of consensus on 'how not to let Jignesh Shah get away' could become a huge embarrassment for the government.
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.
Subramanian Swamy said if income tax is abolished, middle class will deposit money in banks which can be invested in manufacturing.
Investors will get the money directly in their demat accounts or through their brokers. They won't get physical delivery any more.
Financial numbers can sometimes paint a rosy picture because of changes in the accounting policy or a one-time income.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
Despite the low prices, commodities are risky investments
I-T dept investigating black money angle; FM hints against bailout for bourse's investors.
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