NSEL plans to redeem e-series in cash bl-premium-article-image

Our Bureau Updated - September 06, 2013 at 08:45 PM.

The crisis-ridden National Spot Exchange is planning to open a separate window for providing cash settlement for its e-series investors.

In order to help investors liquidate the e-series units, NSEL is in the process of providing an exit window to sell their units and realise cash payments, subject to necessary approvals, said the exchange in a statement on Thursday.

It has also clarified that the delay in delivery is due to the redemption pressure faced by the exchange.

The stock positions of gold, silver and platinum in e-series contracts tallies with depository records as per the audit conducted by Sharp & Tannan Associates.

The exchange has also posted the relevant report on its Web site.

Published on September 6, 2013 15:15