The National Company Law Tribunal (NCLT), Mumbai, has sanctioned a One Time Settlement Scheme between the National Spot Exchange (NSEL) and the traders’ association. This settlement will see the payment of ₹1,950 crore distributed among 5,682 traders based on their outstanding amounts as of July 31, 2024. In return, all legal claims against the group will be withdrawn, along with the assignment of traders’ rights to 63 Moons Technologies, NSEL’s parent company.
This initiative comes nearly twelve years after the closure of NSEL, which left over 13,000 investors with claims totalling ₹5,600 crore following its shutdown in 2013. Earlier, the NCLT mandated that the scheme be put to a vote, attaining a 93% approval rate from traders and a 91% acceptance based on outstanding amounts.
In August 2013, NSEL had already disbursed approximately ₹179 crore, offering some relief to 7,053 smaller traders whose dues were less than ₹10 lakh. Despite a lack of financial trail connecting NSEL and 63 Moons, the promoters have committed to settling the outstanding dues.
Neeraj Sharma, Managing Director and CEO of NSEL, emphasized that the possibility of a settlement was facilitated by the positive stance taken by the current BJP government at both the Central and State levels. Meanwhile, Sharad Kumar Saraf, Chairman of the NSEL Investors’ Forum, expressed gratitude for the efforts made by 63 Moons and NSEL, as well as for the support received from both the Central and State governments in reaching this closure.
The settlement scheme is seen as a critical step toward resolving a long-standing crisis within the trading community affected by NSEL’s downfall.
Published on November 28, 2025.
