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How Was NSEL Allowed To Run Spot Contracts?

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August 6: The NSEL crackdown gets tougher, with reports indicating the government is looking to close all contracts on the spot exchange. G. Chandrasekhar, Commodities Editor at The Hindu Business Line, says that initially the spot exchange’s ready delivery contracts were outside the purview of the Forward Contract Regulation Act. “The system only began to be corrupted when financial investors entered the market,” he adds.