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NEWS|Current Affairs 
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Commodity markets regulator Forward Markets Commission (FMC) has appointed Choksey & Choksey for conducting forensic audit of e-series contracts at NSEL, the spot commodity exchange at the centre of the Rs 5,600-crore payment crisis. Choksey & Choksey has been appointed forensic auditor for e-series contracts and it has started its work, the National Spot Exchange Ltd said in a release here today. This followed an order of the Bombay High Court, which gave the ruling last month while hearing a bunch of petitions filed by a group of aggrieved investors, urging a probe by CBI or any other agency into the crisis that came to light in July. The HC, in its order on October 28, had directed the FMC to appoint a forensic auditor to examine e-series contracts executed at the troubled exchange. The forensic audit process commenced from November 22 and the auditor has to submit a report within 6 weeks, the NSEL release said. Under e-series contracts, retail investors can buy and sell commodities in de-materialised form. This is a unique market segment, which functions like the cash segment in equities, but offers commodities in the demat form in smaller denominations. The exchange was offering spot as well as e-series contracts, which were subsequently banned by the Government. The processing of re-materialisation (converting electronic holdings into paper certificates) will not be allowed for a further period of four weeks from the date on which forensic audit report is furnished to the petitioners (investors), the release said. Mumbai Police's Economic Offences Wing (EOW) has so far arrested five persons, including Anjani Sinha, former MD & CEO of NSEL, in connection with the case. Police till now have seized/attached nearly 100 properties belonging to defaulting companies and former executives of the exchange.

Ukraine separatists seek "special status" at Minsk talks

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Ukraine separatists seek "special status" at Minsk talks

MINSK (Reuters) - Pro-Russia separatists sat down for preliminary peace talks with Ukraine in the Belarussian capital Minsk on Monday saying they would be prepared to stay part of Ukraine if they were...


Ukraine separatists seek "special status" at Minsk talks

from firstpost

Ukraine separatists seek "special status" at Minsk talks

MINSK (Reuters) - Pro-Russia separatists sat down for preliminary peace talks with Ukraine in the Belarussian capital Minsk on Monday saying they would be prepared to stay part of Ukraine if they were...

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"We told you so" - Baltic jitters grow over former ruler Russia

from firstpost

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After deadline, Iran says it is still working on nuclear steps for IAEA

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Ukraine rebels seek "special status", crisis talks to resume on Friday

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Ukraine rebels seek "special status", crisis talks to resume on Friday

MINSK (Reuters) - Pro-Russia separatists sat down for preliminary Ukraine peace talks on Monday due to resume later this week in the Belarussian capital Minsk, saying they would be prepared to stay pa...