About NSEL
National Spot Exchange (NSEL) is a Commodities exchange in India, and is a joint venture of Financial Technologies (India) Ltd. NSEL provides an electronic trading and auction platform to sell commodities (Agri, bullion and Metals). NSEL provides warehousing facilities for various commodities and also facilitate to sell it through the electronic platform to the bulk buyers and millers situated across the country. NSEL provides investment instruments. Bulk buyers can procure the agri-commodities directly from farmers through electronic platform provided by the NSEL.
E-series products launched by NSEL can be bought by the investors for accumulation in the demat account, just like the shares in the equity market. Currently, E-Gold, E-Silver and E-Copper are available to investors. It would be in 'public interest' for the government to provide a platform for these investors to express their views and opinions on the NSEL-FTIL merger proposal. A commodity trader can do arbitrage using different prices available for the same commodity.
NSEL’s proposed settlement plan completely ignores the desperation of these people and keeps their companies at the end of the pecking order.