On 24 July this year, it was reported that the a special court would be set up to hear all cases relating to the National Spot Exchange Limited (NSEL). The same news report also stated that Economic Affairs Secretary, Shaktikanta Das, held a review of the action taken in the NSEL scam (Scam). The genesis of the Scam In May of 2005, NSEL was incorporated as a Joint Venture (JV) between Financial Technologies of India Ltd. (FTIL) and the National Agricultural Cooperative Marketing Federation of India (NAFED).Under the JV agreement, FTIL would hold 99.99% in NSEL. In 2008, NSEL commenced […]
The post #Debriefed: NSEL’s tryst with the Judiciary
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