A panel of secretaries, headed by Economic Affairs Secretary Arvind Mayaram, will again meet on September 20 to discuss the two reports on crisis-hit NSEl.
“We have received both the reports. We are meeting again on Friday to take the discussion forward,” Mayaram said after the first meeting on NSEl which was attended by Secretary in the Ministry of Corporate
Affairs and Secretary, Ministry of Consumer Affairs, Revenue Secretary and Enforcement Directorate head, among others.National Spot Exchange ltd (NSEl), promoted by Jignesh Shah-led Financial Technologies (India) ltd, is facing the problem of settling Rs 5,600-crore dues to 148 members/brokers, representing 13,000 investor clients, after it suspended trade on July 31 on government's direction.
The two working groups -- one under the Enforcement Directorate and the other one under RBI Deputy Governor K C Chakrabarty -- were formed last month to look into the payment crisis at the commodity exchange.
The Enforcement Directorate (ED) in its report submitted to the Finance Ministry last week had indicated that the crisis-ridden bourse may have violated money laundering laws and a few foreign exchange procedures.
The Finance Ministry and the Mayaram-headed panel would go through the contents of the report, and see whether legal action could be initiated against those involved in the operations of NSEl, sources had said.