MPID court directs to pay NSEL small traders up to Rs 20 lakhs, excludes corporates

In a big win for small traders, the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act (MPID) court has directed the Competent Authority to make a graded distribution only to about 2,040 individual traders who have outstanding amounts between Rs 10 lakhs and Rs 20 lakhs.