13.08.2013 - Commodity market regulator to step in if NSEL defaults
The commodity market regulator is preparing a course of action if the troubled bourse National Spot Exchange fails to pay up by the middle of this week as promised by it. In a report finalised over the weekend, the Forward Markets Commission (FMC) has recommended involving other government agencies to track the money if there is a default. "Among the borrowers, there are companies with will low paid-up capital but have borrowed hundreds of crores. If there are defaults, there should be investigation on how the money lent by thousands of investors have been deployed," a government official told ET...............................................Full Article: Source
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