SEBI To Take Action Against Brokers Involved in NSEL case

Sebi has been asked to take necessary action against the defaulting brokers in the nearly Rs 5,600-crore NSEL crisis while the Corporate Affairs Ministry and other agencies including the Enforcement Directorate are also investigating the case. The nearly Rs 5,600-crore payment and settlement crisis at the National Spot Exchange Ltd (NSEL) came to light in late 2013 and since then the matter has come under the scanner of multiple 

agencies. 

The Economic Offences Wing (EOW) of Mumbai police and the Directorate of Enforcement (ED) are also investigating the matter. Properties valued at Rs 5,757 crore (approximately) of the accused have been attached by EOW while 32 common properties valued at Rs 740 crore (by ED) and Rs 1,222.89 crore (by EOW) have been attached. Further, directions have also been given to the Securities and Exchange Board of India to examine and take necessary action against the defaulting brokers.