DATES EVENTS

January,2009 FMC granted approval to BCX u/s 15 of

FCRA,1952 Act.
29, April,2009 EXIL petitioned to CERC to halt the BCX.
(EXIL V.FMC and BCX)
13, August,2009 CERC passed its order on EXIL’s petition.

18, September, 2009 FMC challenged CERC’s judgement via a Writ

Petition
21, October, 2009 CERC allowed EXIL forward contracts in NTSD
nature
FMC – letter – EXIL not registered u/s 14A of
11, November, 2009 FCRA or has central govt. recognition u/s 6 of
FCRA
01, January, 2010 Notification of ‘the regulations’ was made.

FMC filed for chamber summons to Bom HC for

02, February, 2010 inclusion of CERC granting permit to EXIL forward
contracts in electricity.
31, December, 2010 Bom HC gave its order.

17, July, 2013 IIA letter to FMC, allegations on EXIL for default
in payments.
13, January, 2014 FMC appoints RIL to investigate on EXIL.

09, September, 2014 RIL report on EXIL scams.

15, December, 2014 IIA letter to FMC asserting that 99% of EXIL
transactions were in the form of ‘paired
contracts.
19, December, 2014 FMC to EOW and Mumbai Police.

14, April, 2015 EOW investigation report to SEBI.

29, September, 2015 FMC merged with SEBI

01, October, 2015 IIA letter to SEBI (copies of the ones sent to FMC)

December, 2015 SEBI approved brokers who applied to it except

10.
January, 2015 SEBI enquiry against the 10 brokers.

11, April, 2016 SEBI issued SCN to these 10 brokers.

24, May, 2017 SFIO report

15, June, 2017 SCN to remaining 190 entities

25, January, 2018 SEBI criminal complaint

 05, July, 2017 ACB letter to SEBI to take actions against EXIL and
not the member brokers.
28, July, 2017 SEBI gave response to ACB saying it did
everything as per FCRA
October, 2017 ACB writ petition to HC aggrieved by SEBI’s
response.
November, 2017 EXIL writ petition to Bom HC

31, December, 2018 Bom HC decided in favour of SEBI