NSEL Defaulters the main culprit

Since the National Spot Exchange Limited crisis came into light the parent company FTIL is taking up blame. But the defaulters who are actually responsible for all the money laundering are roaming scot-free. Defaulter AasthaMinmet, Yathuri Associates, Namdhari Foods, White Water are some of the defaulters who are investigated by investigating agencies.

Aastha Minmet and Juggernaut Projects are among the major defaulters in the National Spot Exchange Limited case. MohitAggarwal, Managing Director of the Aastha Group. The group is alleged to have defaulted to the tune of Rs. 250 Cr in the NSEL crisis. However the same was not taken on record.  Aastha was directed to file the VAT Returns and VAT payment challan with their affidavit. Apart from that amount upto 12.50 Cr. Worth decrees are obtained with the help of NSEL recovery group.

NSEL brought to the notice of the HCC that MohitAgarwal was not cooperating with the proceedings of the Committee. Also it was observed that the MD of Aastha Minmet was absent at some of the HCC meetings earlier. HCC then directed that Mr. MohitAgarwal be present on the next dates of hearing and comply with the earlier directions and file the required documents.

There are other defaulters like Aastha Minmet who are spending their lives on the defaulted money of NSEL investors. Enforcement Directorate is considering freezing assets of some other defaulters for the recovery of NSEL money.