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| About
National Spot Exchange Limited (NSEL) |
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| National
Spot Exchange Limited (NSEL),
was incorporated in May 2005 as
a spot exchange for trading in commodities.
Central Government by a notification
dated June 7, 2007 had granted an
exemption u/s 27 of the Forward
Contracts Regulation Act (FCRA),
to NSEL from complying with all
the provisions of the FCRA subject
to certain conditions. In October
2008, NSEL commenced operations
providing an electronic trading
platform to willing participants
for spot trading of commodities,
such as bullion, agricultural produce,
metals, etc. Like NSE and BSE, NSEL
has its registered trading members,
commonly referred to as brokers,
who execute commodity trades on
the NSEL platform on behalf of and
in accordance with the instructions
of their respective clients across
India. The trading operations of
NSEL was suspended with effect from
August 6, 2013, only after a notification
dated September 19, 2014, when the
Central Government withdrew the
gazette notification dated June
5, 2007. |
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| e-Series
Rematerialization & Financial Closure |
National Spot Exchange Limited (NSEL)
has received ‘No Objection’ from
Forward Markets Commission to proceed
with the process of Rematerialization
and Financial Closure of e-Series.
Pursuant to this, NSEL has issued
the circular no.
NSEL/DP/2014/014
dated April 04, 2014.
e-Series unit holders who intend
to rematerialize their holdings
can follow the process as detailed
in the above circular. Unit holders
may kindly note that this process
of rematerialization is different
from the earlier process of Surrender
Request (SRF) which has been since
discontinued. The process of rematerialization
shall be possible only for such
unit holders whose holdings match
or exceed the exact denomination
of the underlying metal. Hence,
it is strongly advised to verify
the same from the
latest stock report
before initiating the process.
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Important Updates |
-
Hon’ble MPID Court declares 16 broking
firms as Financial Establishments
-
Hon’ble Bombay High Court awards decree
in favour of NSEL and against defaulter
Metkore Alloys Ltd vide order dated
17.04.2024
-
Hon’ble Bombay High Court awards decree
in favour of NSEL and against defaulter
Vimladevi Agrotech Ltd vide order dated
12.04.2024
-
Hon’ble Bombay High Court awards decree
in favour of NSEL and against defaulter
LOIL Group vide order dated 20.12.2023
-
Defaulter Yathuri Associates Properties,
Auction sale Notice dated 03.07.2023
issued by Deputy Collector and Competent
Authority (NSEL)
-
Defaulter Shree Radley Trading Co. Properties,
Auction sale Notice dated 03.07.2023
issued by Deputy Collector and Competent
Authority (NSEL)
-
Defaulter Spin Cot Textiles Pvt Ltd
Properties, Auction sale Notice dated
03.07.2023 issued by Deputy Collector
and Competent Authority (NSEL)
-
Defaulter Mohan India Group Properties,
Auction sale Notice dated 03.07.2023
issued by Deputy Collector and Competent
Authority (NSEL)
-
Defaulter ARK Imports Private Limited
Properties, Auction sale Notice dated
03.07.2023 issued by Deputy Collector
and Competent Authority (NSEL)
-
Hon’ble Bombay High Court vide order
dated 27.06.2023 rejected the Criminal
Application of one Defaulter, M/s Shree
Radhey Trading Co (SRTC) and upheld
the Order dated 08.05.2023 passed by
the Learned Additional Sessions Judge
-
Seven properties of defaulter ARK Imports
Pvt Ltd are made absolute vide Hon’ble
MPID court order dated 20.03.2023 in
Exh.225
-
Hon’ble Bombay High Court dismisses
appeals filed by NIAG against distribution
of money to individual clients in the
Rs 10 lakhs to Rs 20 lakhs category
-
Hon’ble MPID Court permits Competent
Authority to auction nine properties
of defaulter Shree Radhey Trading Co.
-
Hon’ble Supreme Court Order dated 23.01.2023,
emphasize on the attachment of the beneficiary’s
assets
-
Defaulter Mohan India Group Property,
Sealed Bid Auction Notice dated 15th
February,2023 issued by deputy Collector
and Competent Authority (NSEL)
-
Attached property of defaulter Loil
Overseas, Loil Continental, Loil Health
is made absolute by Learned MPID Court,
Mumbai, vide order dated 30.01.23. Interested
buyers may contact the Competent Authority
(NSEL)
-
Attached property of defaulter White
Water Foods Pvt Ltd situated at “House
No.564, Sector 8B, Chandigarh” is made
absolute by Learned MPID Court, Mumbai,
vide order dated 10.01.23. Interested
buyers may contact the Competent Authority
(NSEL)
-
Attached property of Defaulter White
Water Foods Pvt Ltd situated at “Plot
No 371, Industrial Area, Phase II, Panchkula
Haryana-134109” is made absolute by
the Learned MPID Court, Mumbai, vide
order dated 03.12.2022. Interested Buyers
may contact the Competent Authority
(NSEL).
-
Court convicts defaulter Shree Radhey
Trading Co. and its proprietor Ramesh
Nagpal for the offence punishable under
Section 138 r/w. 141 of the Negotiable
Instrument Act vide Section 255(2) of
the Code of Criminal Procedure. Ramesh
Nagpal sentenced to simple imprisonment
of 1 year and Shree Radhey Trading Co.
and Ramesh Nagpal are severally and
jointly liable to pay fine of double
the amount of cheque within 1 month
from 14.10.2022.
-
NOTICE FOR SERVICE BY SUBSTITUTION IN
A NEWSPAPER NSEL (Decree Holder) Versus
Mohan India Pvt Ltd & Ors (Judgment
Debtors)
-
Hon’ble Supreme Court Committee issues
directions to ED and EOW to file latest
status report of the attachments effected
by them.
-
Hon’ble Supreme Court appoints High
Power Committee to execute decrees and
awards against defaulters
-
ED attaches defaulters property in Dubai
-
Supreme Court rejects application filed
by defaulter against NSEL in Section
138 proceeding
-
Government of Maharashtra has attached
the assets of Defaulters LOIL group
under the MPID Act 1999 vide Gazette
dated 18.04.2022
-
CA Naresh Singla, Auditor of defaulter
Lotus Refineries Pvt Ltd for year 2012-13,
is found Guilty of Professional Misconduct
falling within clause 7 of Part I of
2nd Schedule of Chartered Accountant
Act,1949 by ICAI Disciplinary committee
. CA Naresh Singla is directed to deposit
fine of Rs. 1 Lakh. Also his Name will
removed from the Registered member for
Six Months.
-
CA Mulraj Gala, Auditor of defaulter
Lotus Refineries Pvt Ltd for year 2011-12,
is found Guilty of Professional Misconduct
falling within clause 5,7,8,9 of Part
I of 2nd Schedule of Chartered Accountant
Act,1949 by the ICAI Disciplinary committee.
Also Committe ordered for removal of
CA Mulraj Gala Name from the Register
member for one year along with fine
of Rs. 1 Lakh.
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We are looking for potential buyer for
the attached list of defaulter’s Immovable
assets
-
ABA of Mr. Kailash Agarwal, Director
of NSEL’s biggest Defaulter – ARK Imports,
has been rejected by PHHC
-
NSEL has obtained decree for Rs. 32.77
Crores on Shree Radhey Trading Company
from Hon’ble Bombay High Court
-
Bail of Mr. Gagan Suri, Director of
NSEL’s Defaulter M/s. Yathuri Associates,
granted by Hon’ble MPID Court
-
Bail of Mr. Gagan Suri, Director of
NSEL’s Defaulter M/s. Yathuri Associates,
dismissed by Hon’ble Bombay High Court
-
No-Coercive order restraining EOW to
take coercive step against Mr. Janak
Raj Singh of LOIL Group is stayed by
Hon’ble Punjab & Haryana High Court
vide order dated 22.07.2021
-
ABA of Mr. Kailash Agarwal, Director
of NSEL’s biggest Defaulter, dismissed
in Ludhiana Court
-
Hon’ble Supreme Court dismisses SLP
filed by few trading clients whose outstanding
are above Rs. 10 Lakh
-
The Hon’ble Bombay High Court Order
dated 18.02.2021 allowing sale of Civil
Lines, Delhi property belonging to Mohan
India Group
-
Defaulter, Mohan India Group, Property
Auction Sale Notice dated 08th February
2021 by Deputy Collector and Competent
Authority (NSEL)
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Defaulter, Mohan India Group, Property
Auction Sale Notice dated 04th January
2021 by Deputy Collector and Competent
Authority (NSEL)
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The Hon'ble Supreme Court order dt.
14.12.2020 dismissing the SLP, filed
by DGM Developers Pvt. Ltd. owned by
NSEL Defaulter – White Water Foods with
regard to property situated at Shimla,
Himachal Pradesh.
-
Hon’ble MPID court Order for bail cancellation
of Mr. Kailash Aggarwal, Director of
NSEL Defaulter – ARK Imports, on the
ground of breach of condition.
-
Defaulters Property Auction Sale Notice
dated 02nd September 2020 by Deputy
Collector and Competent Authority (NSEL)
- Public Notice Issued against NSEL
Defaulter - ARK Imports Private Limited
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Cops want NSEL case accused, Mr. Kailash
Aggarwal of ARK Imports bail cancelled
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NSEL scam Extradition plan to extradite
Mr. Anubhav Aggarwal of ARK Imports
sent to Centre
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Rs. 5,600 Crs scam suspect, Mr. Anubhav
Aggarwal of ARK Imports caught in Abu
Dhabi
-
Defaulters Property Auction Sale Notice
dated 17th August 2020 by Deputy Collector
and Competent Authority (NSEL)
-
Defaulters Property Auction Sale Notice
dated 03rd August 2020 by Deputy Collector
and Competent Authority (NSEL)
-
Defaulters Property Auction Sale Notice
dated 09th March 2020 by Deputy Collector
and Competent Authority (NSEL)
-
Defaulters Property Auction Sale Notice
dated 06th March 2020 by Deputy Collector
and Competent Authority (NSEL)
- Based on complaint filed by NSEL,
the ICAI committee has found Auditor
of Defaulter - Lotus Refineries, C.A.
Devraj Mulchand Gala, guilty for not
maintaining compliance with auditing
standard. Order Awaited.
-
Order passed by Hon’ble Punjab & Haryana
High Court, dismissing the no-coercive
order taken by NSEL defaulters LOIL
group and ARK imports
-
Defaulters Property Auction Sale Notice
dated 15th January 2020 by Deputy Collector
and Competent Authority (NSEL)
-
Defaulters Property Auction Sale Notice
dated 01st
January 2020 by Deputy Collector and
Competent Authority (NSEL)
-
Delhi High Court via order dated 27.09.19
has granted injunction on the properties
of the judgment debtors (Mohan India
& 9 others) and have restrained them
from alienating/disposing any of their
properties directly or indirectly.
-
33rd M. M. Ballard Pier Court issued
Bailable warrant against Mr. Gagan Suri
of defaulter Yathuri Associates in Section
138 matter.
-
Withdrawal order dated 29-08-19 passed
by Punjab & Haryana High Court against
Genex Infratech & Genex Polyfab (Group
companies of ARK Imports) Challenging
the Government of Maharashtra Notification
under MPID Act.
-
BHC Order dated 22nd August, 2019 stating
that NSEL is not an Financial Establishment
within the purview of the Maharashtra
Protection of Interests of Depositors
in Financial Establishments Act, 1999.
-
Supreme Court sets aside merger order
of NSEL with 63 moons
-
Defaulters Property Auction Sale Notice
dated 15th July 2019 by Deputy Collector
and Competent Authority (NSEL)
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Mohan India restrained from creating
third party rights in respect of its
properties by DHC in the execution petition
filed by NSEL against the settlement
award passed by BHC
-
Defaulters Property Auction Sale Notice
dated 15th January 2019 by Deputy Collector
and Competent Authority (NSEL)
-
Defaulters Property Auction Sale Notice
dated 16th November 2018 by Deputy Collector
and Competent Authority (NSEL)
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Defaulters Property Auction Sale Notice
dated 26th September 2018 by Deputy
Collector and Competent Authority (NSEL)
-
Defaulters Property Auction Sale Notice
dated 25th July 2018 by Deputy Collector
and Competent Authority (NSEL)
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MPID Court order – Rejection of application
filed by Ms. Seema Sharma, w/o Mr. Arun
Sharma, Lotus Refineries for defreezing
the bank account with direction to the
Competent Authority to return the amount
laying in the said accounts.
-
Defaulters Property Auction Sale Notice
dated 16th May 2018 by Deputy Collector
and Competent Authority (NSEL)
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Punjab & Haryana High Court dismissed
Criminal writ filed by White Water and
PD Agro against Enforcement Directorate
- Recovery Update as on February
2018
|
Category |
Amount (Rs. Crs.) |
| NSEL Escrow Account |
19.20 |
| MPID |
01.00 |
| Total |
20.20 |
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MPID Court order - travel rejection
of Mr. Mohit Singhal & Shilpa Singhal,
Director and Promoter of Aastha Minmet
Private Limited
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MPID Court order for making the attachment
absolute regarding the properties of
Mohan India
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Mohan India Property Auction Sale Notice
by Deputy Collector and Competent Authority
(NSEL)
-
Swastik Property Auction Sale Notice
by Deputy Collector and Competent Authority
(NSEL)
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6 Orders passed by Punjab & Haryana
High Court dismissing the Six Writ Petitions
on jurisdiction ground filed by White
Water and LOIL group challenging State
of Maharashtra notification
-
MPID Court vide order dt 18.07.17 has
allowed EOW to issue NBW against Anubhav
Agarwal
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Order Dated 25th July 2017 passed by
the Hon'ble Committee in respect of
P.D. Agro Processors Pvt. Ltd. & Group
of Companies
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Hon'ble Highcourt Committee Meeting
Notice
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MAHA Govt- appointment of HDFC for valuation
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The government of Maharashtra has appointed
two full time separate Competent Authorities
under the MPID Act for NSEL only. Attached
is the G.R. Dt.8th May 2017 for perusal
of all.
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As per HC order Brizo Realty company
(Aastha Minment creditor) has deposited
Rs. 8,30,00,000/- (Rs. Eight crores
Thirty Lakhs Only) in the Registry on
6th March, 2017
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Court Order - Ranjeev Aggarwal of P
D Agro/Primezone Developers to be arrested
for not complying with his bail condition.
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Order dated 16th January, 2017 passed
by the Hon'ble Committee on the Application
of LOIL group of companies.
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Order Dt. 24th January passed by PMLA
Court in PMLA Case No. 4/16 thereby
issuing the process against ARK Group
and Genex group
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Narayan Nageshwar Rao - NCS Sugars Ltd.
Bail Modification Order
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Order passed by MPID court in MA 160/2016
related to Mohan India property sale
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MPID court cancelled bail granted to
Rajesh Mehta
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Swastik Property Auction Sale Notice
-
Red Chilly & Black Pepper Auction Sale
Notice
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Mohan India Auction Sale Notice
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HCC order dated 2nd September 2014 prohibiting
NSEL to disburse from the Escrow account
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List of assets of defaulters attached
by EOW
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FMC’s complaint letter against Members
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Ketan Shah's complaint against Motilal
Oswal Wealth Management Pvt. Ltd. and
Philip Commodities India Pvt. Ltd.
- NSEL has obtained decrees on
Aastha Minmet India Pvt. Ltd .,
Juggernaut Projects Ltd. ,
Swastik Overseas Corporation ,
Yathuri Associates , and
ARK Imports Pvt Ltd. from Bombay
HC
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Notice of Motion No. 998 of 2014 filed
by Defendant No. 20 (Primezone Developers
Pvt. Ltd.) in Notice of Motion (L) No.
807 of 2014 in Suit No. 781 of 2014
and Affidavit of Mr. Ranjeev Agarwal,
Director, Primezone Developers Pvt.
Ltd. in support thereof.
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Agreement dated 2nd April, 2014 between
Primezone Developers Pvt. Ltd. (“the
Indebtedness Obliger”) and Mr. Ram Naresh
Saraf (“the Obligee”) who happens to
be the father of Mr. Pankaj Saraf, Complainant
against NSEL
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Letter dated 3rd June, 2015 addressed
to Mr. Arvind Wadhankar, Senior Police
Inspector (EOW) and Mr. Dhananjay Kamlakar,
Joint Commissioner of Police (EOW) with
respect to Primezone Developers Pvt.
Ltd. and Mr. Ranjeev Agarwal
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Police Custody Remand against 3 Brokers
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Offers are invited for purchase of black
pepper and red chilly belonging to Shree
Radhey Trading Co. stored at Shri Krishna
Cold Storage and Foods, Janata Road,
Hareti, Saharanpur 247001, UP.
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Bids invited by NSEL for sale of Ferrochrome
at S.No. 64, Ravivalasa Village, Tekkali,
District Srikakulam, AP
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Sealed Bids are invited for sale of
TMT Bars of Aastha Minmet India Pvt.
Ltd. located at Kurnool dist. , Andhra
Pradesh
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Sealed bids are invited for sale of
Land of Aastha Minmet India Pvt. Ltd.
situated at Cuttack, Orissa
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Sealed bids are invited for sale of
Land of Aastha Minmet India Pvt. Ltd.
situated at Rangareddy, Telangana
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HC Committee recommends sale of goods
held by Metkore Alloys and Namdhari
Group
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Circular - Proforma for submitting information
pertaining to National Spot Exchange
Ltd. (NSEL)
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Form for submitting information pertaining
to NSEL
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Details of Warehouse Visit by Members
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Details of NSEL Members acting as CnF
Agents
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