NSEL crisis: Jignesh Shah's exchange, brokers, HNIs' nexus now under scanner

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Some brokers apparently offered structured financial products to their HNI clients for high returns of 10-20 per cent. (Reuters) Some brokers apparently offered structured financial products to their HNI clients for high returns of 10-20 per cent. (Reuters)
SummaryNSEL fiasco is turning out to be a unique case where even investors could be among main culprits.

almost all its products.

A major crisis erupted at NSEL last month after it suspended most trades on its platform, prompting the government to order an enquiry by the commodity regulator FMC, while Sebi also began a separate probe.

Sebi is probing into the matter and is looking into potential violations of rules related to insider trading, fraudulent trade practices and possible payment defaults.

Besides, the Consumer Affairs Ministry, Finance Ministry, commodity regulator FMC and Corporate Affairs Ministry are also keeping a close watch on the situation.

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