Of the 24 members, 5 have paid a total of Rs 8.50 crore so far (Rs 40 lakh was paid on August 21). (Agencies)
NSEL had announced a seven-month plan to settle the dues to investors. As per the plan, August 16 was the first 'pay-in' day and August 20 the first 'pay-out' day. However,
NSEL was able to pay only Rs 92 crore in the first pay-out out of the scheduled Rs 174.72 crore on August 20.
There are 24 companies which have to pay around Rs 5,600 crore to the spot exchange for settling dues to investors.
Meanwhile, NSEL declared nine members (buyers) who failed to pay their dues on the first day of settlement on August 20 as 'defaulters', following directives from the commodity market regulator FMC.
"Following Members have been declared as Defaulters as per the rules of the exchange -- (a) ARK Imports Pvt Ltd (b) Moil Overseas Foods Ltd (c) Lotus Refineries Pvt Ltd (d) N K Proteins Ltd (e) NCS Sugars Ltd (f) Spin Cot Textiles Pvt Ltd (g) Tavishi Enterprises Pvt Ltd (h) Vimladevi Agrotech Ltd (i) Yathuri Associates," NSEL said in a circular.
NSEL, promoted by Jignesh Shah-led Financial Technologies (India) Ltd, is facing the problem of settling Rs 5,500 crore dues to 148 members/brokers, representing 13,000 investor clients, after it suspended trade on July 31 on the government direction.
Of the 24 members, 5 have paid a total of Rs 8.50 crore so far (Rs 40 lakh was paid on August 21).