Crisis-ridden National Spot Exchange ltd (NSEl) on Wednesday said its Delhi-based member Mohan India ltd has agreed to pay to the exchange about Rs 771 crore in final settlement over the next one year.
“NSEl and one of its members Mohan India have reached an agreement, based on which, the latter has agreed to facilitate pay-in of Rs 771 crores over a period of one year as part of its financial closure/settlement obligations,” the exchange said in a statement.
Mohan India will make a down payment of Rs 11 crore and the balance will be paid over the next one year, it said. The firm’s total outstanding was Rs 950 crore.
“We are committed to pay-in and settle our dues over the next one year period, and I am happy that we have reached an understanding with NSEl,” Mohan India Director Jagmohan Garg said.