Special panel meets on NSEL, to meet again on Friday

Report by ED alleges there may be violation of Money Laundering Act, FEMA

A special team set up by the Prime Minister's Office on National Spot Exchange, deliberated on reports submitted by two sub-groups under it. The meeting remained inconclusive and will again take up these reports on Friday.

"We have received both the reports. We are meeting again on Friday to take it forward," economic affairs secretary Arvind Mayaram told reporters after the meeting.

A report by Enforcement Directorate alleged that there may be violation of Prevention of Money Laundering Act and FEMA by some investors of NSEL.