Bombay HC adjourns hearing in NSEL case till October 25

The NSEL matter at the Bombay High Court has been adjourned till next Monday. During the hearing, the FMC updated the court regarding the progress made in the NSEL probe.

The FMC also told the court that it did not have powers of enforcement with respect to settlements and recovery. The FMC said that it had limited powers and therefore it could only supervise and not regulate.

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However, the court questioned this argument saying that the FMC was washing its hands off the matter. FMC, Union of India, ministry of consumer affairs directed to clarify if they have power and obligation to not only supervise, but also regulate and take remedial action, of necessary.

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