NSEL case: Sebi cancels Nirmal Bang Commodities' regn
Mint Mumbai|December 28, 2023
Capital markets regulator Sebi on Wednesday cancelled the registration of brokerage house Nirmal Bang Commodities for facilitating its clients to trade in illegal 'paired contracts' on the now defunct National Spot Exchange Ltd.
NSEL case: Sebi cancels Nirmal Bang Commodities' regn

Sebi said 'paired contracts' on NSEL were not spot contracts in commodities.

The brokerage (noticee), driven by its desire to earn brokerage, provided a platform for its clients to access a product which raised serious questions on its ability to conduct proper and effective due diligence regarding the product itself, the regulator said in an order.

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