SEBI Board discusses action taken in Rs 5,600-crore NSEL Scam

The Securities and Exchange Board of India (SEBI) on Saturday apprised its board about the actions taken against five brokers that allegedly involved in the Rs 5,600 crore National Spot Exchange Limited (NSEL) scam.

SEBI has forwarded relevant findings to Mumbai Police’s Economic Offence Wing, Department of Revenue, Department of Consumer Affairs, Directorate of Enforcement (ED) and the RBI.

Earlier, SEBI has launched a probe against some brokers for alleged mis-selling of products with promise of assured returns in connection with the Rs 5,600-crore NSEL payment fiasco.