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Markets Down 3%, Rupee Past 68. Fears of Syria, Or Something Else?

This is just a heads up. The fear is that something is happening in Syria. But these are rumours and the following could be an overreaction. Russia supposedly ...

Indonesian Rupiah Slammed To Lowest Since 2009

It’s not just India. The Rupiah has fallen to 11,000 to a dollar, the lowest level since 2009. This part is scary: The nation’s trade shortfall was $2.3 ...

NSEL Update: Audit Shows Less Than 20% of Stock, Untraceable Borrowers, Related Parties, Where is the CBI?

The crisis behind the NSEL (National Spot Exchange) is getting more and more murky. The Exchange released client positions behind the 24 members who “owe” ...

NSEL Defaults Again, FT Loans 177 cr. to Pay Back Small Investors

NSEL has defaulted a second time, this time paying out just Rs. 12.60 cr. after last week’s payment of about half of what it should have paid (Rs. 174 cr.) ...

NSEL Losing Support, Directors Resign, A Disappointing EndGame

National Spot Exchange (NSEL) Chairman Shankarlal Guru, whose son-in-law owns NK Proteins, a defaulter of Rs. 930 cr. to NSEL, has resigned saying “some bad ...

NSEL Gets Just 8 Cr., FMC Toughens SGF Norms, Jignesh Proposes Haircut, FT Directors Quit

While NSEL paid out Just Rs. 92 cr. out of the Rs. 174 it was supposed to this Tuesday, it is going to be even worse next Tuesday. NSEL defaulters were ...

Brokers Were Definitely Guilty in NSEL Fiasco Also: Reader

An alert reader of Capital Mind has called me out on my post that brokers could have been innocent. No chance, he says, and he explains: I was reading your ...

NSEL Told To Auction Stocks, Take Punitive Action.

The Forward Markets Commission has rapped NSEL hard once again, in a scathing letter to management. Why was only Rs. 92 cr. paid out? This is way lesser than ...

SEBI Asks for Consolidated Results, Cash Flow and Book Values Every 6 Months

SEBI has published draft changes to the way companies report financial results. The revisions are available for public comment till Sep 13, 2013. Companies ...

NSEL Couldn’t Even Make the First Payout, Management is Sacked

I’d noted yesterday that NSEL had received just Rs. 81 cr. of the 174 cr. it was supposed to pay out today. Turns out they didn’t get much more; they ended ...