FMC allows Financial Technologies to cross-examine NSEL's auditor Grant Thornton

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NSEL is in the thick of a Rs 5,600 crore payment crisis (Reuters) NSEL is in the thick of a Rs 5,600 crore payment crisis (Reuters)
SummaryFMC had relied on the forensic audit of crisis-hit NSEL that was prepared by Grant Thornton

added.

FMC has directed MCX to conduct a special audit after it ordered the sacking of MCX Managing Director and CEO Shreekant Javalgekar, who was also on the Board of NSEL-promoted Indian Bullion Markets Association (IBMA) that was found trading on the MCX.

On the forensic audit of NSEL e-series transactions as directed by Bombay High Court, FMC chief said it would take place by next week.

"We have short listed two Mumbai-based firms. We have sent them 'terms of reference' and asked them for their offer. Next week, definitely, we are going to appoint an auditor for the e-series," Abhishek added.

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