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As a result, these firms are disallowed to act as brokers, indirectly or directly. On November 30, 2022, the Securities and Exchange Board of India (Sebi) barred five brokerages involved in the National Spot Exchange (NSEL) fraud from registering as commodity brokers for the next six months.
Jan 18, 2021 · The NSEL scam shocked every segment of investors in the market when it was unearthed in 2013. Even today, the aftershocks can be felt. Sinha, the former managing director of NSEL, was arrested by...
Nov 30, 2022 · The Securities and Exchange Board of India on Tuesday imposed six- and three- month bans, respectively, on five commodity brokerages from obtaining fresh registrations for their involvement in the National Spot Exchange (NSEL) scam.
Feb 27, 2019 · Securities and Exchange Board of India (SEBI) has recently declared Geofin Comtrade and Anand Rathi Commodities as not ‘fit and proper’ to act as commodity derivatives brokers in for their suspected involvement in the Rs 5,600-crore National Spot Exchange (NSEL) scam.
Apr 23, 2022 · NEW DELHI: In a significant order in Rs 6,000 crore scam in National Spot Exchange Scam involving Jignesh Shah, the Supreme Court on Friday ruled that the Maharashtra government had validly attached assets of 63 Moons, which held more than 99% share in NSEL.
Dec 7, 2022 · In one of the longest investigations spread over nine years, the city economic offences wing has filed the 11th and final chargesheet against 49 accused, including 33 brokers, in the Rs 5,600 ...
Dec 2, 2022 · On November 29, the Securities and Exchange Board of India (Sebi) banned five commodity brokers from obtaining fresh registrations as commodity brokers for their alleged involvement in the National Spot Exchange Ltd (NSEL) scam.
The NSEL scam, which came to light in 2013, involves defrauding 13,000 investors of ₹ 5,574 crore after inducing them to trade on the platform, creating forged documents and falsifying accounts,...
Aug 3, 2023 · The Mumbai police recently filed an affidavit before the Bombay High Court (HC) contesting the trial court decision to make certain directors and promoters of three brokerage entities as accused in the Rs 5,600 crore National Spot Exchange Scam (NSEL).
Sep 3, 2019 · New Delhi: More than six years after his erstwhile spot exchange NSEL got engulfed in an alleged Rs 5,600-crore scam, embattled businessman Jignesh Shah has said it was "an employee fraud" done in connivance with some defaulter brokers and it could have been resolved in flat six weeks but for a political conspiracy hatched at that time to help ...
