• NSEL has provided personnel and IT support to both the EOW and the Competent Authority constituted under the MPID Act in order to speed up the recovery process and assist in the ongoing
investigation. Voluminous data has been shared with both agencies | entities and four draft proposals
have been submitted to the Competent Authority in consultation with the MAC for submission to Court for the sale of commodities and properties of four defaulter members.
• The Exchange has deputed staff at the EOW to assist recovery meetings with defaulters.
• The MAC constituted by the FMC met every week/fortnight at the exchange with active participation from NSEL to review recovery proceeding. However, the same has been recently wound up by the FMC in light of the high powered Committee constituted by the Bombay High Court.
• Interaction with client groups and member groups for information, clarifications or recovery are held periodically.
• Coordination with RBI, CIBIL, banks and various government agencies to get more information and data on defaulters to make recovery case stronger is an ongoing process.
investigation. Voluminous data has been shared with both agencies | entities and four draft proposals
have been submitted to the Competent Authority in consultation with the MAC for submission to Court for the sale of commodities and properties of four defaulter members.
• The Exchange has deputed staff at the EOW to assist recovery meetings with defaulters.
• The MAC constituted by the FMC met every week/fortnight at the exchange with active participation from NSEL to review recovery proceeding. However, the same has been recently wound up by the FMC in light of the high powered Committee constituted by the Bombay High Court.
• Interaction with client groups and member groups for information, clarifications or recovery are held periodically.
• Coordination with RBI, CIBIL, banks and various government agencies to get more information and data on defaulters to make recovery case stronger is an ongoing process.
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