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The NSEL (National spot Exchange Ltd) scam or NSEL fraud was an organized and intentional scam perpetrated in the commodity Market from 2007 to 2013 by the Jignesh Shah owned National Spot Exchange (NSEL), a private company based in Mumbai, India.
In 2013, the exchange defaulted payments to about 13,000 investors who lost money in the Rs 5,600-crore NSEL scam.
On July 13, 2016, Jignesh Shah was detained by the Enforcement Directorate (ED).
