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Regular Review Meetings being held to monitor payment and settlement crisis in National Spot Exchange Limited (NSEL);Key decisions taken in this regard

News and Press Release - Dated:- 17-6-2016 - The matter relating to violations of law, criminal offences and default in payments to investors on the platform of National Spot Exchange Limited (NSEL) is engaging the serious attention of the Government .....

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try of Corporate Affairs (MCA). The progress of these activities is being monitored in the Department of Economic Affairs (DEA),Ministry of Finance through Review Meetings. So far, eleven such meetings have taken place. The last such Review Meeting w .....

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under: Government of Maharashtra has issued fifth Gazette notification on 17.3.2016 for attachment of 151 properties worth ₹ 358.46 Crores approximately. Till date, five Gazette notifications have been issued in respect of attachment of assets .....

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raft order of the amalgamation. MCA issued the final Order on 12.2.2016 for the merger of NSEL with FTIL. Hon ble Bombay High Court, however, has restrained the Government from notifying the final Order dated 12.02.2016 in the Gazette. In the review .....

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plaint before the City Civil Court And Additional Sessions Judge, Greater Bombay on 30.3.2015 against NSEL and 67 other accused persons under the Prevention of Money Laundering Act, 2002 (PMLA). The prosecution complaint details money trail amounting .....

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IND passed an Order on 4.11.2015 under section 13 of the PMLA imposing a penalty of ₹ 1.66 crores on the NSEL for non-compliance of the Act. NSEL has gone in appeal in the PMLA Tribunal against the Order passed by Director, FIU-IND. Besides thi .....

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arashtra is working on proposals for providing additional manpower for Economic Offence Wing of Mumbai Police which is investigating the NSEL case on an urgent basis; augmenting the number of Designated Courts under the Maharashtra Protection of Inte .....

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