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23 ArticlesMCX

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NSEL Fallout: FT and Jignesh Shah Found Unfit and Improper

Financial Technologies and it’s founder Jignesh Shah, along with two key people (Joseph Massey and Shreekant Javalgekar) have been declared “not fit and ...

Jignesh Shah Resigns from MCX

So it’s finally started to unravel. Jignesh Shah, the founder of FT which started MCX, has now resigned from the MCX board, after the NSEL debacle. "The ...

NSEL: Mgmt Arrests, E&Y “Checked” Warehouses, Sinha’s Wife Traded on MCX

In the NSEL saga, the endgame is starting to play out. Not to the liking of the top officials of the infamous spot exchange, of course. Two of them, Amit ...

NSEL: Anand Rathi Raided, Money Laundering, Auditors Flee, Yet Another Default

Since many of you are bored of NSEL, I’ll stop writing about it NO! This is a matter of serious outrage and we can’t let these fellows go scot free! ...

NSEL: The 5,500-crore Scam No One Wants to Deal With

Originally written for Yahoo. An innocuous-looking notification from the Forward Markets Commission (FMC) came in on July 12, 2013. And in the offices of the ...

MCX-SX Licence Renewed, SEBI Disengages Promoter Control

The licence of MCX-SX, the stock exchange whose promoters are the same as NSEL (Financial Technologies and MCX), has been renewed for one year. This is despite ...

NSEL’s Insider Nexus, Gets Called For Fraud, Serious Media Attention

The 5,500 National Spot Exchange Scam now gets even more mainstream media attention. Here are some links. Outlook comes out guns blazing, firing at Jignesh ...

MCX Loses 40% of Total Open Interest In The Last Few Days

While MCX Shares hit upper circuits everyday, something’s wrong with the picture here. The open interest is what is carried over to the next trading day. ...

NSEL Chairman Interview: I Didn't Know

The ex-chairman of NSEL, Shankarlal Guru, meets Zee News for an exclusive. He says he wasn’t aware of irregularities. That some people had told NSEL there ...

NSEL Update: Audit Shows Less Than 20% of Stock, Untraceable Borrowers, Related Parties, Where is the CBI?

The crisis behind the NSEL (National Spot Exchange) is getting more and more murky. The Exchange released client positions behind the 24 members who “owe” ...