 Two, the natural order of priority for recovery of the outstanding dues of some Rs 5,600 crore owed to some traders would begin with the defaulting traders, proceed to the brokers involved and then the exchange, but the government has short-circuited the sequence by fixing the responsibility on the exchange and then shifting it to its promoter company.Three, the concept of limited liability, a cornerstone of modern entrepreneurship, stands revealed as having limited value in India's regulatory apparatus.On December 4, 2017, the Bombay High Court dismissed the petition filed by 63 moons technologies, previously FTIL, to oppose the forced merger of NSEL with FTIL.