Sebi Settles Proceedings Against 91 Commodity Brokers via NSEL Scheme
The Securities and Exchange Board of India settled cases with 91 brokers related to the defunct National Spot Exchange. Most companies paid around Rs 6 lakh, though some entities like Emkay Commotrade remitted significantly higher amounts.
India's capital markets regulator Sebi has resolved proceedings against 91 commodity brokers through a settlement scheme concerning operations on the now-defunct National Spot Exchange Ltd (NSEL). The scheme was open from August 25, 2025, to February 25, 2026. According to an order dated September 9, all 91 entities agreed to pay specified settlement amounts. Most brokers paid approximately Rs 6 lakh each. Notable payers included Emkay Commotrade at Rs 30.84 lakh and Pace Commodity Brokers at Rs 36.05 lakh. Religare Commodities Ltd, SMC Comtrade Ltd, Jainam Commodities, and Adroit Commodities Services are also part of the group. Penalties ranged from temporary restrictions to permanent bans. Several brokers accepted a six-month voluntary debarment from proprietary trading and accepting new commodity clients, while others faced only one month of restrictions or no ban condition.
