National Spot Exchange Ltd (NSEL)
National Spot Exchange Ltd (NSEL) is a national level institutionalized, electronic, transparent spot exchange that is poised to transform the rural economy. It is a state-of-the-art unique electronic marketplace providing a common trading platform to various participants like farmers, traders, processors, exporters, importers, arbitrageurs, investors, and the general masses. These participants can buy, sell, trade, lift delivery, or deliver the commodities listed on it. The National Spot Exchange Limited (NSEL) was India’s first electronic commodity spot exchange that was established in view of the then Prime Minister’s vision to create a “single market” across the country for both manufactured and agricultural produce. The Economic Survey of 2002-03 of the Government of India also recommended setting up a national-level, integrated market for agricultural products, as did the Planning Commission. This was followed by the Rangarajan Committee, which too sought a national spot market.
The Government of India granted permission to NSEL along with two other spot exchanges to start operations. The Government of India issued a Gazette Notification dated 5 June 2007 granted a general exemption under Section 27 of the Forward Contracts Regulation Act (FCRA.)
- NSEL has been successful in obtaining decrees on admission against 5 defaulters from the Hon. Bombay High Court, to the tune of Rs. 1,233.02 crore
- NSEL has helped in tracked the assets of defaulters and secured injunctions against the assets of 18 defaulters from the Bombay High Court in respect of claims of Rs. 4515.93 crore
