that nsel scam be merged into this article . discuss proposed since april 2016 . national spot exchange ltd. type private industry commodity spot trading founded 2005 headquarters mumbai india key people mr. prakash chaturvedi chief executive officer 1 mr. neeraj sharma sr. vice president mr. sandip rahane manager products spot exchange website www.nationalspotexchange.com national spot exchange nsel is a commodities exchange in india and was touted as a joint venture of jignesh shah owned financial technologies india ltd. ftil and national agricultural cooperative marketing federation of india nafed . national spot exchange commenced its live trading operations in different commodities on wednesday 15 october 2008 . it began trading in pre certified cotton bales for mumbai delivery and imported gold and silver bars for ahmedabad delivery immediately and has since added a number of commodities . nafed was given 100 shares and was called a promoter to induce investors and give them a false sense of safety.on 31 july 2013 the crisis on the exchange broke when it neither had money nor stocks to pay to investors . national spot exchange s stated mission was to develop a common indian market by setting up a nationwide electronic spot market and providing state of art trading delivery and settlement facilities in various commodities . this exchange is now in the middle of a crisis due to a major 5600 crore then us 0.9 billion commodity scam and all the trades have been stopped . contents 1 facilities offered 2 nsel ftil forced merger 3 references 4 external links facilities offered edit the exchange is now defunct . 2 nsel ftil forced merger edit the ministry of corporate affairs mca in the government of india issued on october 21 2014 a draft order of amalgamation of nsel national spot exchange limited dissolved company with ftil financial technologies india limited transferee company under section 396 of the companies act 1956 . the reasons for proposing such an order of amalgamation have been set out in the annexure to the draft order . references edit executive team . national spot exchange . retrieved 16 april 2016 . http www.nationalspotexchange.com external links edit updating from old articles which are removed again and again by few users with malafied intentions . nsel scam suspicion mounts on brokers routing black money the times of india apr 10 2016 sebi begins action against nsel brokers mint mar 16 2016 nsel scam bombay hc panel charges brokers with mis selling of products business standard april 10 2016 nsel scam suspicion mounts on brokers routing black money the economic times apr 10 2016 spot exchange centres to be set up in kerala businessline 29 november 2006 national spot exchange website nsel debacle economic & political weekly 14 september 2013 retrieved from https en.wikipedia.org w index.php title national spot exchange & oldid 724309761 categories agricultural marketing in indiacommodity exchanges in indiacompanies based in mumbaibusiness failureshidden categories articles to be merged from april 2016all articles to be mergeduse indian english from september 2014all wikipedia articles written in indian englishuse dmy dates from september 2012 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages edit links this page was last modified on 8 june 2016 at 12 07 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view