About Us  |   Contact Us  |   Register  | Login  |   

Follow HedgeWorld on Twitter HedgeWorld on LinkedIn






HEDGEWORLD NEWS
Search the News
Advanced News Search
HedgeWorld News by Region
United States / Americas
Europe
Asia / Australia
International
HedgeWorld News Sections
Managed Futures & Derivatives
Daily News
Regulatory/Legal
Strategies/Analysis
Technology
Opinion
People
Indexes
Other News Features
Most Popular
LexisNexis Headlines
Reuters Headlines
The HedgeWorld Blog
Alternative Advantage Daily Newsletter
RSS Service
Sign Up For Email News Alerts
Reprints



Police arrest former CEO of India commodities bourse
10/17/2013 Email this story  |  Printable Version

MUMBAI, Oct 17 (Reuters) - The former chief executive of Indian commodities bourse National Spot Exchange Ltd (NSEL) was arrested on Thursday, a senior police official said, without specifying whether any charges were being pressed against him.

NSEL's former managing director and CEO Anjani Sinha was removed from his position by the bourse's board in August amid regulatory scrutiny after the bourse abruptly stopped payments to settle outstanding trades to investors.

The Mumbai police's additional commissioner in charge of the economic offences wing (EOW), Rajvardhan Sinha, said by telephone that Anjani Sinha had been arrested, but declined to provide further details.

NSEL, owned by Financial Technologies (India) Ltd, has been under investigation by the EOW since last month after India's commodities regulator ordered it to suspend trading over suspected violations of rules on contract duration.

NSEL has said it followed all existing rules.

Since the trading suspension, NSEL has struggled to settle outstanding contracts worth more than 55 billion rupees ($889 million).

Anjani Sinha could not immediately be reached.

A spokesman for NSEL and Financial Technologies declined to comment. ($1 = 61.8625 Indian rupees) (Reporting by Himank Sharma and Siddesh Mayenkar; Editing by Dale Hudson)


Email This Story to a Friend   |   Display Printable Version of This Story

Story Copyright © 1999-2014 Reuters HedgeWorld All rights reserved.

HedgeWorld News is sponsored by:






Lipper    Privacy   User Policy  Legal Disclosure Copyright/DMCA  Site Map    FAQ    Glossary  Thomson Reuters for Hedge Funds
All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of HedgeWorld content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. HedgeWorld is a registered trademark of Thomson Reuters.