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About
National Spot Exchange Limited (NSEL)
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
NSEL/DP/2014/014
dated April 04, 2014.
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. 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)
Defaulter, Mohan India Group, Property
Auction Sale Notice dated 04th January
2021 by Deputy Collector and Competent
Authority (NSEL)
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
Cops want NSEL case accused, Mr. Kailash
Aggarwal of ARK Imports bail cancelled
NSEL scam Extradition plan to extradite
Mr. Anubhav Aggarwal of ARK Imports
sent to Centre
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
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)
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)
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)
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)
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
MPID Court order - travel rejection
of Mr. Mohit Singhal & Shilpa Singhal,
Director and Promoter of Aastha Minmet
Private Limited
MPID Court order for making the attachment
absolute regarding the properties of
Mohan India
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)
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
Order Dated 25th July 2017 passed by
the Hon'ble Committee in respect of
P.D. Agro Processors Pvt. Ltd. & Group
of Companies
Hon'ble Highcourt Committee Meeting
Notice
MAHA Govt- appointment of HDFC for valuation
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.
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
Court Order - Ranjeev Aggarwal of P
D Agro/Primezone Developers to be arrested
for not complying with his bail condition.
Order dated 16th January, 2017 passed
by the Hon'ble Committee on the Application
of LOIL group of companies.
Order Dt. 24th January passed by PMLA
Court in PMLA Case No. 4/16 thereby
issuing the process against ARK Group
and Genex group
Narayan Nageshwar Rao - NCS Sugars Ltd.
Bail Modification Order
Order passed by MPID court in MA 160/2016
related to Mohan India property sale
MPID court cancelled bail granted to
Rajesh Mehta
Swastik Property Auction Sale Notice
Red Chilly & Black Pepper Auction Sale
Notice
Mohan India Auction Sale Notice
HCC order dated 2nd September 2014 prohibiting
NSEL to disburse from the Escrow account
List of assets of defaulters attached
by EOW
FMC’s complaint letter against Members
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
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.
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
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
Police Custody Remand against 3 Brokers
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.
Bids invited by NSEL for sale of Ferrochrome
at S.No. 64, Ravivalasa Village, Tekkali,
District Srikakulam, AP
Sealed Bids are invited for sale of
TMT Bars of Aastha Minmet India Pvt.
Ltd. located at Kurnool dist. , Andhra
Pradesh
Sealed bids are invited for sale of
Land of Aastha Minmet India Pvt. Ltd.
situated at Cuttack, Orissa
Sealed bids are invited for sale of
Land of Aastha Minmet India Pvt. Ltd.
situated at Rangareddy, Telangana
HC Committee recommends sale of goods
held by Metkore Alloys and Namdhari
Group
Circular - Proforma for submitting information
pertaining to National Spot Exchange
Ltd. (NSEL)
Form for submitting information pertaining
to NSEL
Details of Warehouse Visit by Members
Details of NSEL Members acting as CnF
Agents
VIDEO
Bloomberg TV – October 21,
2015 : Panel Discussion
featuring Mr. Prakash Chaturvedi,
Chief Executive Officer,
NSEL
Zee Business – October 21,
2015 : Panel Discussion
featuring Mr. Prakash Chaturvedi,
Chief Executive Officer,
NSEL
Zee Business – July 29,
2015 : Exclusive Interview
of Mr. Prakash Chaturvedi,
Chief Executive Officer,
NSEL
ET Now - Hot Commodities
– July 22, 2015 : Exclusive
Interview of Mr. Prakash
Chaturvedi, Chief Executive
Officer, NSEL
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