It is expected that investors in e-Series units will be able to realise their investments once the FMC and the courts grant the approval, NSEL said in a statement.
Under e-series contracts, retail investors bought and sold commodities in de-materialised form. It functioned like the cash segment in equities, but offered commodities in the demat form in smaller denominations.
FMC is monitoring recovery of dues of about Rs 5,600 crore at the spot commodity bourse which suspended trade in July last year after two dozen counterparties declared their inability to settle payments.
While responding to the Chokshi & Chokshi's draft audit report on e-Series contracts, which was carried out after a 28 October, 2013, Bombay High Court order, NSEL said as the auditors have digressed far beyond its terms of reference, the exchange has requested Forward Markets Commission to consider this aspect before taking any punitive steps.
However, the exchange claimed that draft report has found that the quantity of goods at its godowns was matching as per the reconciliation exercise carried out by auditors.
Under e-series contracts, retail investors bought and sold commodities in de-materialised form. It functioned like the cash segment in equities, but offered commodities in the demat form in smaller denominations.
FMC is monitoring recovery of dues of about Rs 5,600 crore at the spot commodity bourse which suspended trade in July last year after two dozen counterparties declared their inability to settle payments.
While responding to the Chokshi & Chokshi's draft audit report on e-Series contracts, which was carried out after a 28 October, 2013, Bombay High Court order, NSEL said as the auditors have digressed far beyond its terms of reference, the exchange has requested Forward Markets Commission to consider this aspect before taking any punitive steps.
However, the exchange claimed that draft report has found that the quantity of goods at its godowns was matching as per the reconciliation exercise carried out by auditors.