Sebi settles proceedings against 91 commodity brokers in NSEL case

Sebi has concluded its proceedings against 91 commodity brokers connected to the NSEL matter, permitting these firms to enter a settlement scheme. Many brokers accepted temporary restrictions on proprietary trading and client acquisition, with some paying settlement fees reaching up to 36 lakh rupees.

The settlement aligns with directions from the Securities Appellate Tribunal for an orderly resolution process. The move marks a step toward resolving the prolonged dispute involving multiple market participants in the commodity broking sector.