FT, MCX slip ahead of secretaries panel meet to discuss NSEL crises
Shares of FT tanked 11% to Rs 164, while MCX locked in lower circuit of 5% at Rs 444 on the BSE.
Shares of Financial Technologies (FT) and Multi Commodity Exchange of India (MCX) are trading lower by over 5% each ahead of a panel of secretaries, headed by Economic Affairs Secretary Arvind Mayaram, meeting tomorrow to review developments at payment crisis-hit National Spot Exchange Ltd (NSEL).
The Enforcement Directorate (ED) in its report submitted to the Finance Ministry last week has indicated that the crisis-ridden bourse may have violated money laundering laws and a few foreign exchange procedures, the PTI report suggests.
NSEL is facing the problem of settling Rs 5,600 crore dues to 148 members/brokers, representing 13,000 investor clients, after it suspended trade on July 31 on government's direction. Both NSEL and MCX are promoted by Jignesh Shah-led FT.
Shares of FT have tanked 11% to Rs 164, while MCX is locked in lower circuit of 5% at Rs 444 on the Bombay Stock Exchange.
The Enforcement Directorate (ED) in its report submitted to the Finance Ministry last week has indicated that the crisis-ridden bourse may have violated money laundering laws and a few foreign exchange procedures, the PTI report suggests.
NSEL is facing the problem of settling Rs 5,600 crore dues to 148 members/brokers, representing 13,000 investor clients, after it suspended trade on July 31 on government's direction. Both NSEL and MCX are promoted by Jignesh Shah-led FT.
Shares of FT have tanked 11% to Rs 164, while MCX is locked in lower circuit of 5% at Rs 444 on the Bombay Stock Exchange.