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The Securities and Exchange Board of India (SEBI) has cancelled the registration of Progressive Comtrade and Leo Global Commodities for facilitating their clients to trade in illegal 'paired contracts' on the National Spot Exchange Ltd, which is now defunct.
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the stock broker license of Leo Global Commodities Pvt Ltd for dealing in or facilitating paired contracts on the National Spot Exchange Ltd (NSEL) platform. Leo Global Commodities has been asked to allow its existing clients to withdraw or transfer securities or funds held in its custody within 15 days.