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The Bombay High Court on Friday granted bail to  Jignesh Shah, the Financial Technologies chairman and one of the prime accused in the Rs 5,600 crore National Spot Exchange Ltd (NSEL) scam.Shah has reportedly already spent more than a hundred days behind bars as an accused.Shah was granted bail on a cash surety of Rs 5 lakhs. Besides this the court has also asked Shah to provide a solvent surety ...
In its biggest-ever crackdown on a large-scale illicit money pooling scheme estimated at nearly Rs 50,000 crore, regulator Sebi today ordered immediate closure of unauthorised collective investment schemes run by PACL Ltd and refund of investors' money within three months. Besides, the capital markets regulator also said it is initiating further proceedings against the company and its nine promoters ...
Gold steadied above a two-month low on Friday after a five-day losing streak and was headed for its biggest weekly loss in five, hurt by strong U.S. economic data and speculation the Federal Reserve could hike interest rates sooner than expected.Bullion has been hit hard after minutes from the Fed's July meeting on Wednesday showed policymakers debated whether interest rates should be raised earlier ...
China's planned global gold exchange has signed up more members than targeted, as foreign banks and trading houses seek direct access to the world's top physical gold consumer and to test out reforms allowing them to trade commodities in the yuan currency.The strong response from foreign players will boost efforts by China - also the world's biggest producer of gold - to gain pricing power over the ...
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