You are here: Home » Current Affairs » News » National
Business Standard

NSEL scam: NCLT directs govt to put interim report on record

SFIO's report on FTIL, others to be submitted within 2 weeks

Gireesh Babu  |  Chennai 

auction, order, court, SC
Photo: Shutterstock

The Company Law Tribunal (NCLT) has asked the central government to place on record an interim report by the (SFIO) in connection with the alleged Spot Exchange Ltd (NSEL) scam and related matters in two weeks. 

The report was with the Centre, counsel appearing for various parties said when the government’s petition against (India) Ltd (FTIL) — now renamed 63 Moon Technologies — came up for hearing in the on Thursday. 

The hearing was adjourned to October 3 for arguments on the impleading petitions, while the final hearing is expected in the latter part of the month.

According to earlier reports, the government had directed the almost an year back to probe and its associate companies in connection with alleged irregularities in the NSEL.

The Centre had initially filed a petition against in the NCLT, Delhi. The matter was later transferred to the Chennai bench. The government, in February last year, directed the merger of NSEL with in the wake of a Rs 5,600 crore crisis at NSEL.

First Published: Fri, September 08 2017. 01:29 IST
RECOMMENDED FOR YOU