أنجليزي إلى عربي الأعمال/المال العلوم المالية عموماً

This leaves no doubt in our mind that the transaction was between two persons i.e. buyer and seller through medium of NSEL. No doubt something has gone wrong somewhere in these transactions and at the end, when a show cause notice came to be issued to the NSEL by the Central Government, it was on the basis that the squaring off did not take place on the same day and all outstanding positions of the trade at the end of the day did not result into delivery. After 31st July 2013, 24 sellers and their brokers who had entered into reverse trades on T+2 date and received monies thereunder failed to honor their commitment of squaring off their position by buying back the commodities on T+25 date. As a result, 148 buyers and brokers could not receive monies on their open positions due to defaults committed by 24 sellers and their brokers. This was noted as a violation of the exemption conferred on the NSEL and the exemption from forward contracts of one day duration for sell and purchase of commodities traded on the NSEL came to be withdrawn. Resultantly, the NSEL was not in a position to settle the accounts and was required to dwindle on its activity.