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NSEL controversy: Jignesh Shah contests Sebi verdict on insider trading

Jignesh Shah, founder and promoter of Financial Technologies India (FTIL), since renamed 63 Moons Technologies, has argued that the 13 individuals (including his father and brother) charged with insider trading violations in the repayment controversy concerning that entity's subsidiary are not guilty. On Wednesday, the Securities and Exchange Board of India had passed an order against former FTIL and Multi Commodity Exchange (MCX) officials, saying they had traded with Unpublished Price-Sensitive Information (UPSI). The markets regulator has directed these individuals to pay a total of Rs 124 crore and impounded their bank and demat accounts till they do so. By Sebi's order, USPI was the implication of the department of consumer affairs (DCA) notice dated April 27, 2012, to FTIL subsidiary National Spot Exchange (NSEL), which triggered a chain of events, subsequently leading to a Rs 5,600-crore payment crisis. Shah, in a second public appearance after the NSEL crisis that broke out ..

63 Moons Technologies to invest Rs 50 crore in scam-hit NSEL

The company will invest around Rs 50 crore every year for 3 years

Bombay HC hears arguments against NSEL merger order

Harish Salve alleged the forced merger order violates the Constitutional rights of FTIL investors and employees.

NSEL case: ED rejects bail of Kailash Agarwal

With Rs 719.42 crore of payment obligation, ARK Imports is the second largest defaulter in NSEL case

ED arrests Agarwal of ARK Imports in NSEL case

Agarwal's ARK Imports is one of the leading defaulters in the NSEL case with a payment default of Rs 719 crore

CBI arrests Jignesh Shah over MCX-SX licence

Agency conducts searches at FTIL, MCX, MSEI offices and residences of Sebi officials

NSEL case: ED calls five FTIL board members for questioning

Those who have been called for interrogation include Chairman, MD and CEO of FTIL in Rs 3,721-cr money trail case

Government to set up special court for NSEL cases

The payment crisis at NSEL came to light in 2013. Since then, the matter has come under the scanner of multiple agencies

Two years of blame game, legal tangles

Investors yet to get money, courts have not yet adjudicated on regulatory actions, defaulting borrowers still free, fearless

NSEL accused get summons for July 18

The trial court asked all 68 accused to be present in person

Court summons Shah, 67 others in NSEL case

Asks the accused to be present in court on July 7

NSEL scam: ED to widen probe, fresh attachments

The Enforcement Directorate (ED) is set to widen its probe and initiate fresh round of attachment proceedings in connection with its money laundering probe

Don't look to us for action, Sebi tells NSEL investors

Explains the erstwhile FMC, whose powers it has since taken over, had no regulatory jurisdiction in the matter

NSEL scam: Centre asks for speedier action

FinMin takes stock, asks Maharashtra govt to hasten auctions of attached properties, MCA to monitor court proceedings more

Reserve Bank feels NSEL case heat

The NSEL Aggrieved and Recovery Association says lack of regulatory action led NSEL committing a fraud to the tune of Rs 5,600 cr through its trading terminal

Govt seeks 6 weeks in NSEL-FTIL merger case

Conveys to the Bombay HC that it needs more time to examine submission filed by FTIL

Investor files recovery suit against broker

Vishvanidhi Dalmia filed the suit following delay in recovery of money

NSEL Scam: MPID court orders fund transfer from Lotus Refineries' account

On March 4, the court had attached 37 properties of ARK Imports and directed competent authority to fetch its market valuation

EOW has attached defaulters' assets worth Rs 5,000 crore: NSEL

Spot exchange says it has already secured recoveries worth Rs 1,233 crore

HC panel asks for audit of NSEL, others

8 brokers and 7 investors too come under the scanner