NSEL's third payout: Manages to collect only Rs 80 lakh

New Delhi: The National Spot Exchange (NSEL) could gather only Rs 80 lakh today from its members and clients against the third scheduled payout of Rs 174.72 crore which is due on 4 September.

Of 24 members, only two members have paid a total of Rs 80 lakh today, according to an update from the exchange. Crisi-ridden NSEL had announced a seven-month plan to settle the dues to investors.

The beleaguered bourse has already defaulted in the last two pay-outs as it able to gather only Rs 92.73 crore in the first pay-out and Rs 12.05 crore in the second pay-out, out of the scheduled Rs 174.72 crore each.

Representational Image. Reuters[/caption]

There are 24 buyers/members which have to pay Rs 5,600 crore to the spot exchange for settling dues to investors.

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Meanwhile, NSEL declared ten more members (buyers) who failed to pay their dues on the second day of settlement on 27 August as 'defaulters', following directives from the commodity market regulator FMC.

NSEL, promoted by Jignesh Shah-led Financial Technologies (India) Ltd, is facing the problem of settling Rs 5,600 crore dues to 148 members/brokers, representing 13,000 investor clients, after it suspended trade on 31 July on the government direction.

PTI