FMC probes dabba trade in mentha oil
Commodity derivative markets regulator FMC is inquiring into unauthorised forward trading in mentha oil across major markets in UP after reports that such trading, called dabba trading, is responsible for falling volumes in exchanges.
By Agencies |
MUMBAI: Commodity derivative markets regulator Forward Markets Commission (FMC) is inquiring into unauthorised forward trading in mentha oil across major markets in Uttar Pradesh after reports that such trading, called dabba trading, is responsible for falling volumes in exchanges.
"We are verifying the allegations and will take necessary actions," Rajiv Agarwal, a member of FMC said on Tuesday. "We have to file a case with the police if so warranted. That we will come to know after ascertaining the facts," he said.
FMC held such trading outside the regulatory framework to be violative of the Forward Contracts Regulation Act, Agarwal said. "This is a cognisable offence," he said.
"We are verifying the allegations and will take necessary actions," Rajiv Agarwal, a member of FMC said on Tuesday. "We have to file a case with the police if so warranted. That we will come to know after ascertaining the facts," he said.
FMC held such trading outside the regulatory framework to be violative of the Forward Contracts Regulation Act, Agarwal said. "This is a cognisable offence," he said.
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