FMC finds fraud in NSEL; 'fit & proper' status under risk

While the RBI is examining whether NSEL can be considered as an NBFC or not, Sebi is examining whether the NSEL's scheme can be considered a ponzi scheme.

http://www.moneycontrol.com/news/business/fmc-finds-fraudnsel-39fitproper39-status-under-risk_949417.html