The income tax department suspects possible tax evasion by defaulters of the National Spot Exchange Ltd (NSEL). It has found that stocks projected by most of them are forged and over-reported. The IT department had conducted nation-wide searches on the business premises of about two dozen members of the NSEL on August 22.Meanwhile, stock exchanges have decided to bar defaulters, who caused the 5 thousand five hundred crore rupees payment crisis at NSEL from all trading activities, as per direction from markets regulator SEBI.