NSEL crisis: PwC to conduct special audit of MCX

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Forward Markets Commission has approved the appointment of PricewaterhouseCoopers to conduct a special audit of Multi Commodity Exchange of India. Forward Markets Commission has approved the appointment of PricewaterhouseCoopers to conduct a special audit of Multi Commodity Exchange of India.
SummaryNSEL, a bourse owned by MCX promoter FTIL, is facing payment settlement problems.

a transaction value of R1,00,000, MCX executives had said earlier.

Farm commodities’ turnover dropped 33% to R10.09 lakh crore until November 30, while that of bullion and metals crashing 36% to R34.18 lakh crore and R13.89 lakh crore, respectively. Energy items, too, saw turnover decline 27% to R18.60 lakh crore in the first eight months of this fiscal.

Govt monitoring NSEL case, says minister

Government is monitoring the progress of follow-up action in the case regarding NSEL payment crisis on the basis of report submitted by a special team, Parliament was informed on Friday.

“The progress of the follow up action is being monitored through their action taken notes and meeting at higher level,” minister of state for finance Namo Narain Meena told Lok Sabha.

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