Don't look to us for action, Sebi tells NSEL investors

In spite of monitoring the few failures at the National Spot Exchange (NSEL), the capital markets guard dog, Securities and Exchange Board of India (Sebi), couldn't intercede in the matter as the item spot market did not go under its purview, the controller cleared up in a letter to NSEL financial specialists.

The business sector controller indicated its part and limitations in light of grievances enrolled by NSEL financial specialists on the Prime Minister's Office (PMO) entrance.

Sebi in a letter to NSEL financial specialists dated June 14, said: "Speculator grievances relating to the NSEL matter are past (our) administrative area."

Be that as it may, Sebi said, it would bolster the board of trustees set up by the high court here for recuperation of the levy. Additionally, "will react to organizations examining the case and guarantee representation in the gatherings inside the administration for exploring progress in the matter," composed Sebi in the letter, where it alluded to the Union back service's mandate on the part of the controller for the situation.

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