Why nsel default

NSEL has since faced legal cases from traders in the exchange after failing to settle outstanding contracts. NSEL defaulted to the tune of Rs 5, crore a year ago and 13, investors had been hit by the payment crisis. The commodity spot exchange, a subsidiary of Jignesh Shah-led Financial Technologies India Ltd, has recovered about Rs crore of dues from defaulting members out of the total outstanding amount of Rs 5, crore.

A special anti-money laundering court in Delhi has ordered attachment of Rs crore worth of assets of one of the biggest defaulting firms and its associates involved in the multi-crore National Spot Exchange Limited NSEL scam.

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