The embattled National Spot Exchange, promoted by Financial Technologies, is to disburse Rs 12.64 crore in its 19th settlement cycle against Rs 174.72 crore assured by the exchange at the time of suspending trading abruptly in August.
The amount is to be disbursed on a proportionate basis to members who have an outstanding position in the exchange.
The exchange has also defaulted in the last settlement cycle. So far, it has paid Rs 281 crore against the exchange’s commitment of Rs 3,138 crore.
According to a regulatory directive, payout to the Indian Bullion Merchant Association (IBMA) amounting to Rs 2.05 crore is to be retained in the NSEL escrow account, the exchange said in a statement.
Four companies which have made payment in this settlement cycle include NK Proteins Rs 1.84 crore, NCS Sugars Rs 50 lakh, Topsworth Steels and Power Rs 8.20 crore and Mohan India Rs 2.10 crore. The exchange has listed out 19 defaulters in this settlement.