NSEL traders vote in favour of one time settlement

 In a significant development towards resolving the prolonged National Spot Exchange Ltd (NSEL) crisis, approximately 92% of affected traders have approved a one-time settlement scheme. This scheme, proposed by the NSEL Investors Forum (NIF) and backed by 63 Moons Technologies—the parent company of NSEL—entails a payout of ₹1,950 crore to around 5,700 investors. The settlement offers about 42% of the outstanding dues, providing a long-awaited resolution for traders who have been awaiting reimbursement since the exchange's collapse in 2013 due to payment defaults by 24 entities .

Under the terms of the agreement, investors will assign their claims against defaulters to 63 Moons, which will oversee the recovery process. To ensure transparency, an escrow agent and monitoring authority will be appointed to supervise the disbursement of funds. The settlement plan has been submitted to the National Company Law Tribunal (NCLT) for approval, marking a pivotal step towards concluding one of India's most significant financial disputes in the commodities trading sector .

Comments

Post a Comment

Popular posts from this blog

Intensification of tariff wars, rise of protectionism can shake up global supply chains

 The intensifaction of tariff wars and the rise of protectionist policies have the potential to disrupt global supply chains, increase production costs and create uncertainty in investment decisions across borders as well said on the thursday. ] This also happened in the ripple effect on the financial market across the own market. she also said that function organised by the BSE to celebrate the 150 years of the exsitence. In one thing stands firm the strength of the indian economic fundamental and the development of the macro economy has been managed.  
Read more

my personal experience about GPL

 I have a best experience in GPL. I have selected in the sengipatti super singhams team in sengipatti super singhams the team captain was jayasellan. he selected me in his team. In GPL the first for us with the chola knight riders team. The match was so interesting and little bit difficult for us we scored 62 runs in the first half of the match and the second half the match was tie and we played super over match. The match was very crucial and we won the match. All of them never expected from us because they have the own opinion about us. But we did it. The second was sengipatti super singhams vs delta dare devils in the also we expected we won the match but we loose the match. All of the team members are disappointed about the match. Other match we palyed against with maratha royals and the match was so interesting. In that match also again we set a target as 62 and in the match we won. we qualified to the next match in that match also we set a target as 60 in the qualified match ...
Read more

ISRO satellites forecast wheat production, assess crop condition

 In the  Indian space research organisation they using a study its satellites has estimated that the total wheat production from eight major wheat has to be growing states will be 122.724 million tonnes as on march 31, 2025.  The framework it can be developed by the ISRO'S national remote sensing centre has enables the near real time monitoring of crop sowing and harvesting during the rabi season across the india. The eight major wheat growing states listed are uttar pradesh, madhya pradesh, rajasthan, punjab, haryana, bihar, gujarat and maharastra.  the wheat sown area derived from satellite data by using the stands in which is close to the statistics generated by the ministry of the agriculture and farmers welfare it should be added. The multi source data integration is expected to enchance the value of wheat growing states of the india as on the march 31 is estimated to be 122.724 million tonnes as to be said by the ISRO.
Read more