The embattled National Spot Exchange has failed to settle trade worth Rs 175 crore for the 17th time in a row. The exchange, which suspended trade in August and announced a settlement calendar, made a payment of just Rs 9 crore which is to be distributed proportionately to investors.
Topworth Steels and Power was the only company to pay Rs 9 crore in this settlement cycle. The exchange has listed out 22 companies as defaulters in this week’s settlement.
According to the regulatory directive, the payout to Indian Bullion Markets Association amounting to Rs 1.45 crore would be retained in the NSEL escrow account until further instructions, the exchange noted in a statement.
Anand Rathi Commodities received the highest payout of Rs 1 crore in this settlement. It was followed by Geojit Comtrade and India Infoline Commodities with Rs 51 lakh and Rs 50 lakh each.
Systematix Commodities Services and Motilal Oswal Commodities Broker got Rs 45 lakh and Rs 43 lakh respectively.