Indian Bullion Market Association-IBMA set up by NSEL, was also a member of the Exchange. IBMA has reportedly invested Rs1,200 crore in NSEL and the commodities market regulator has asked the Exchange to stop paying any dues to 146 shareholders of the Association without its permission
Moneylife Digital Team
Commodities market regulator Forward Markets Commission (FMC), which is charged with supervising the handling of payment crisis at National Spot Exchange Ltd (NSEL), has found that Indian Bullion Market Association (IBMA), one of the members of the Exchange, has reportedly invested Rs1,200 crore in the NSEL ready-forward product. IBMA is an NSEL group company.
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