High court grants NSEL intervention

Case seeks expeditious probe in the Rs 5600 crore payment crisis at NSEL

The defunct spot commodity trading platform National Spot Exchange (NSEL) sought its intervention in a case related to expedition of a probe into the NSEL scam, the Bombay High Court heard on Monday.

Filed by the NSEL Investors’ Action Group (NIAG), the case seeks an expeditious probe in the ~5,600-crore payment crisis by the three government agencies, the Central Bureau of Investigation, Enforcement Directorate and the Economic Offences Wing of the Mumbai Police.

The court granted the NSEL intervention and the matter is scheduled for hearing after two weeks. Sources said NIAG has written dozens of letters to all the three probing agencies seeking speedy investigation in the case.