User:Michaeltibbs/sandbox

NSEL case or NSEL scam relates to a payment default at the National Spot Exchange that occurred in 2013. The case is under investigation with the spotlight on the involvement of brokers , defaulters, investors  and key decision makers.

NSEL was promoted by Financial Technologies India Ltd and the NAFED (only 100 shares given for misusing the NAFED brand who was touted as a co-promoter). The payment default took place when the then commodities market regulator, the Forward Markets Commission (FMC) directed NSEL to stop launching any fresh contracts leading to an abrupt closure of the Exchange in July 2013.