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FMC Finds Rampant Violations At NSEL

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September 26: The Forward Markets Commission is now setting grounds for further action against NSEL's promoters and the directors of MCX. After its investigation, including forensic audit and warehouse audit reports, FMC has found several instances that are likely to make the board culpable of violations committed at the exchange. Bloomberg TV India also learns that the FMC has found that the entire working model of the NSEL was allegedly bogus.