Sebi to meet leading commodity brokers next week over Rs 56-bn NSEL case

The Securities and Exchange Board of India (Sebi) has convened a meeting of leading commodity brokers on Tuesday to hear from them on the alleged violation of various trading laws in the Rs 56-billion National Spot Exchange (NSEL) payment default case.     

Sebi is yet to pronounce the final order in the case. The meeting is being convened after the brokers lost their case at the Bombay High Court (HC) in this regard. 

To avoid Sebi's stick, companies had sought de-registration of defunct commodity broking companies on NSEL. Sebi had refused and the HC upheld the stand. The brokers include Anand