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Merge NSEL with FTIL, says commodity market regulator to government

Posted on 18 August 2014

The commodity market regulator has told the government that the fraudridden National Spot Exchange (NSEL) should be merged with the parent Financial Technologies (FTIL) - an unprecedented proposal which could be bitterly resisted by various stakeholders of FTIL, a listed, profitable company.
A merger would transfer NSEL’s liabilities of more than Rs 5,000 crore to FTIL that has so far financially ring-fenced itself from the scam at the spot exchange which defaulted and stopped operations a year ago………………………………………..Full Article: Source


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