MUMBAI: Sebi on Monday gave the commodities broking arm of leading domestic finance company Motilal Oswal Financial Services three weeks to submit its reply on a show-cause notice SCN ) issued by the markets regulator in April 2017. Sebi has also asked Motilal Oswal Commodities Broker to appear for a hearing on September 27 at the regulator’s headquarters in the city.“If the noticee (Motilal Oswal) opts not to submit a reply on merits or appear for the personal hearing on merits on the scheduled date or do both, then, in the interest of justice and to avoid any further delay in bringing the present quasi-judicial proceedings to its logical conclusion, the proceedings on merits shall proceed ex parte on the basis of material available with Sebi,” the regulator said in an 18-page order.The ongoing investigations are part of the overall Rs 5,600-crore National Spot Exchange (NSEL) scam in which several investors are still stuck with their money. In 2013, NSEL — the now defunct spot exchange — had defaulted, following which regulators and several investigative agencies had started investigating into its affairs. The Sebi’s SCNs are part of its investigations into the matter. Earlier, on August 30, Sebi had directed Geofin Comtrade and Anand Rathi Commodities to file their respective replies to the regulator’s show-cause notices within three weeks, also issued in April 2017. It also had given India Infoline Commodities two weeks to file its reply and Phillip Commodities four weeks. All these brokers are members of MCX and NCDEX, both.