The poster boy of the business community in Mumbai, Shah has built an empire of nine exchanges in India and overseas within a decade and a half. The NSEL fiasco, though, has badly dented his credibility and casts a long shadow over his other businesses.

Commodity markets regulator FMC on Wednesday directed NSEL to declare members, who have failed in making payments, as defaulters and liquidate all their realisable assets.

 Amid the deepening of payment crisis at the National Spot Exchange, the government is examining a proposal to bring commodity markets FMC under the purview of the Finance Ministry.

The government is mulling conducting audit of NSEL's physical stocks lying in warehouses by own agencies as it fears defaults in payment by buyers, a top Consumer Affairs Ministry official said.

Country's largest commodity bourse MCX on Friday said it has no exposure to crisis-hit NSEL, which has to settle dues worth Rs 5,600 crore to investors after it suspended trading, a top official said.

In a fresh twist to NSEL imbroglio, an investor forum has demanded change in the ownership of the bourse and said that the government should takeover all collaterals to restore investor confidence.

Leading stock exchange BSE on Wednesday decided to halve the circuit limit for the shares of Multi Commodity Exchange (MCX), capping its maximum movement in a day at five per cent.

The government on Wednesday said it has issued a notification giving more teeth to the regulator Forward Markets Commission (FMC) to ensure that the NSEL ensures settlement of Rs 5,600 crore in dues to investors.

Trading came to a halt at the crisis-ridden National Spot Exchange Ltd (NSEL) on Tuesday after the government banned trade of its e-series contracts of commodities such as gold and silver to ensure that the exchange first settles Rs 5,600 crore in dues to investors.

The National Spot Exchange Ltd (NSEL), which faces a risk of default after suspending trade, on Monday said it has formed an independent committee to advise and monitor settlement of trade amounting to about Rs 5,500 crore.

FTIL's scrip had slumped 72 per cent over the last two days amid problems at group entity National Spot Exchange Ltd (NSEL).

Next set of quarterly earnings, trend of foreign institutional investors (FIIs), the rupee's movement and global events will set trend in the truncated week.

A day after crisis erupted at the National Spot Exchange Ltd, capital market regulator Sebi said it is on \"top of the situation\" and there is no systemic risk as settlements are happening.

The shares of FTIL opened weak and hit its fresh 52-week low on the BSE by falling 45 per cent to Rs 105.5. In the previous trade, the stock had fallen by as much as 65 per cent.

Allaying fears, the NSEL claimed it has physical stock worth Rs 6,200 crore compared to total outstanding contracts of Rs 5,000-5,500 crore.

Even as you delve into this BT collector's edition on 100-year-old companies, doff your hat to M.F. Husain, 95, who passed away on June 9, leaving behind a rich artistic legacy.