National Spot Exchange (NSEL) has defaulted on its payment
obligations, thereby putting further pressure on the regulators to act
expeditiously against the bourse
The exchange has managed to pay only R15.37 crore against R174.72 crore as laid down in the settlement schedule. The first pay-out day on August 20 saw the exchange disburse only R92.13 crore, which was followed by R12.60 crore on August 27. In other words, the exchange, till date, has disbursed only R120 crore against R524.16 crore.
NSEL, however, last week made a separate payment to small investors totalling R177.23 crore by taking a bridge loan from Financial Technologies-India (FTIL)
The exchange has managed to pay only R15.37 crore against R174.72 crore as laid down in the settlement schedule. The first pay-out day on August 20 saw the exchange disburse only R92.13 crore, which was followed by R12.60 crore on August 27. In other words, the exchange, till date, has disbursed only R120 crore against R524.16 crore.
NSEL, however, last week made a separate payment to small investors totalling R177.23 crore by taking a bridge loan from Financial Technologies-India (FTIL)
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