"There is no question of the government taking over NSEL. The government is concerned about the regulated entities one of them is MCX, a commodity exchange, the other is MCX-SX, and another is the promoter of the Multi Commodity Exchange of India Ltd (MCX)
Multi Commodity Exchange of India Ltd (MCX) and MCX-SX, which is Financial Technologies. All three are under watch", he said in a TV interview.
The minister, who is here to attend the IMF-World Bank meetings, said that NSEL has been operating under an exemption order and "if it has defrauded any of its investors or clients, (it) must pay a price."
Chidambaram further said the Economic Offences Wing (EOW) of the Maharashtra Police had registered a case and was probing the alleged irregularities.
"They made one arrest before I left. I didn't know about the second arrest. Those who have committed the acts of malfeasance or misfeasance will pay a price," he added.
As far as MCX-SX, a stock exchange promoted by Financial Technologies, is concerned, the minister said that Sebi had forced two of its directors to resign.
MCX-SX, Chidambaram said, "is now managed by a board which does not have suspected or tainted people."
With regards to MCX, the minister said, "the show-cause notice has been issued, the two week period is to expire and the FMC (Forward Markets Commission) will take action after it receives the reply to the show-cause notice".