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TRUTH OF FTIL’S SHAKE
DOWN CONSPIRACY
INTRODUCTION
• National Spot Exchange crisis came up light of on
31 july 2013 .
• After Two year 5,600 – Crore NSEL Crisis the
Maharastra Government is setup the special court .
• When the crisis broker all the trades wear halted by
the Forward Markets Commission (FMC)
• However, FMC is not respond .
• Now After two years down the line, RTI documents
reviewed by Bureaucracy Today.
CONTD..
• Today reveal that there might be deep rooted
game plan by some bureaucrats.
• In the UPA Government colluded with some
officials of Forward Market Commission (FMC)
• Forward Market Commission (FMC) to vandalize
FTIL, the parent company of NSEL.
• Every penny of the entire sum of money trails to the
24 defaulters.
FMC ROLES
• FMC order to Close the Market immediately was
calamitous.
• FMC met all the 24 defaulters on 24th August 2013
and held a one on one meeting.
• After meeting the defaulters committed their fraud.
• It created panic leading to settlement failure of Rs
5,600 Cr.
ACCORDING TO BUREAUCRACY TODAY
• The Indian Government gave FMC a wide range of
compilation powers to act against the 24
defaulters.
• It was surprising that the FMC did not take any
action against them.
• FMC as a regulator of Forward Market had no
jurisdiction over the spot exchange
• The FMC has recommended the merger of the NSEL
with the FTIL under Sections 396 and 397 of the
Companies Act.
CHALLENGES
• A move challenged by the NSEL in the Bombay
High court.
• While merger in this is not the ideal solution for
paying up on the crimes which it did not commit.
• A Higher level against NSEL official accuses FMC is
goofing up entire issue.
LETS CONCLUSION
• This conspiracy a planned effort to bring down FTIL
when it was at its peak?
• Only time to tell how and when NSEL crisis case will
get resolved .
• The government should go behind defaulter rather
than debating tangential issue.

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Truth of ftil’s shake down collude

  • 1. TRUTH OF FTIL’S SHAKE DOWN CONSPIRACY
  • 2. INTRODUCTION • National Spot Exchange crisis came up light of on 31 july 2013 . • After Two year 5,600 – Crore NSEL Crisis the Maharastra Government is setup the special court . • When the crisis broker all the trades wear halted by the Forward Markets Commission (FMC) • However, FMC is not respond . • Now After two years down the line, RTI documents reviewed by Bureaucracy Today.
  • 3. CONTD.. • Today reveal that there might be deep rooted game plan by some bureaucrats. • In the UPA Government colluded with some officials of Forward Market Commission (FMC) • Forward Market Commission (FMC) to vandalize FTIL, the parent company of NSEL. • Every penny of the entire sum of money trails to the 24 defaulters.
  • 4. FMC ROLES • FMC order to Close the Market immediately was calamitous. • FMC met all the 24 defaulters on 24th August 2013 and held a one on one meeting. • After meeting the defaulters committed their fraud. • It created panic leading to settlement failure of Rs 5,600 Cr.
  • 5. ACCORDING TO BUREAUCRACY TODAY • The Indian Government gave FMC a wide range of compilation powers to act against the 24 defaulters. • It was surprising that the FMC did not take any action against them. • FMC as a regulator of Forward Market had no jurisdiction over the spot exchange • The FMC has recommended the merger of the NSEL with the FTIL under Sections 396 and 397 of the Companies Act.
  • 6. CHALLENGES • A move challenged by the NSEL in the Bombay High court. • While merger in this is not the ideal solution for paying up on the crimes which it did not commit. • A Higher level against NSEL official accuses FMC is goofing up entire issue.
  • 7. LETS CONCLUSION • This conspiracy a planned effort to bring down FTIL when it was at its peak? • Only time to tell how and when NSEL crisis case will get resolved . • The government should go behind defaulter rather than debating tangential issue.