NSEL scam
NSEL scam : More than 5000 investors wait for justice
Wed, Jul 31, 2019
NSEL case relates to a payment default at the National Spot Exchange that occurred in 2013. Three spot exchanges, NSEL, NSPOT and National APMC were exempted by the government under Section 27 of FCRA to conduct forward trading in one day contracts.
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NSEL scam: SEBI declares commodity arms of Motilal Oswal, IIFL 'not fit and proper'
Sat, Feb 23, 2019
The Securities and Exchange Board of India (SEBI) has declared the commodity broking arms of Motilal Oswal and India Infoline (IIFL) as 'not fit and proper', as part of action in the NSEL case.
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NSEL scam: Sebi grants Motilal Oswal 3 weeks to reply to SCN
Tue, Sep 04, 2018
Pursuant to merger of forward market commission with Sebi, the regulation of the commodity derivatives broker was entrusted to the latter. In view of the requests made by NSEL and EOW, the regulator had appointed an auditor to carry out performance inspection of the five brokers.
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NSEL money laundering case: ED seizes Rs 17 lakh cash, over 60 vehicles in raids
Thu, May 31, 2018
NSEL money laundering case: The raids were conducted under the Prevention of Money Laundering Act (PMLA) against defaulter firms-- N K Protiens promoted by Nimish Patel and Nilesh Patel, Yathuri Associates promoted by Rahul Anand, Aastha Minmet India Pvt Limited promoted by Mohit Singhal and Lotus Refineries Pvt Ltd promoted by Arun Sharma.
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CBI unearths 393 shell companies used to divert Rs 2,900 crore
Sun, May 07, 2017
According to sources, CBI has uncovered 393 shell companies which were used to divert loan funds meant for specified purposes, creating fake invoices, and "round-tripping" of funds to evade taxes and generate black money.
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After NSEL scam, Jignesh Shah arrested by CBI in MCX-SX case
Tue, Sep 20, 2016
The central bureau of Investigation (CBI) in the afternoon, arrested Jignesh Shah promoter of NSEL and FTIL after conducting searches at 9 places in Mumbai, involving their residence and office premises along with four officials from Sebi and others in an on-going investigation of a case.
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PMLA court grants bail to Jignesh Shah in NSEL scam case
Sun, Aug 07, 2016
The Prevention of Money Laundering Act (PMLA) court on Saturday granted bail to Financial Technologies India Ltd's (FTIL) founder and former chairman Jignesh Shah in nearly Rs 5,600 crore National Spot Exchange Ltd (NSEL) scam case.
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PMLA court extends judicial custody of Jignesh Shah till August 1
Mon, Jul 18, 2016
The Prevention of Money Laundering Act (PMLA) court on Monday extended the judicial custody of Financial Technologies India Ltd's (FTIL) founder and chairman Jignesh Shah in nearly Rs 5,600 crore NSEL scam case till August 1.
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63 Moon Technologies slumps 8% on Jignesh Shah's arrest
Wed, Jul 13, 2016
“We fail to understand why such a coercive step has been taken by the Enforcement Directorate when Mr. Shah has been fully co-operating with the investigation and has been going every time he has been called, including today, especially when ED’s own complaint has failed to establish any money trail to either Mr. Shah or 63 moons. We have full faith in Indian judiciary and sincerely believe that truth will prevail,” FTIL.
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