NSEL payment crisis surfaced on July 31, 2013 and then exchange
suspended trading in all its contracts. The crisis was assessed at a surprising amount of around Rs. 5,600
crores. However a enormous sum of this amount is recoverable from the real
culprits, borrowers connected to NSEL. Borrowers are also known as Defaulters
of the crisis which are roaming scot-free till date. This recoverable amount is
estimated to be as high as around Rs. 5,300 crore which is to be made from the
sale of property belonging to defaulters. Most of these properties are known to
be located in Middle-east.
NSEL had declared 22 members as ‘Defaulters’ in 2013 as per Rule 41 of the
Exchange Bye laws. Let us know these NSEL Defaulters closely by their
defaulting amounts, Injunctions and Decrees obtained against their assets till
date.
These defaulters who have 100% of the traders’
amount are still roaming free even three years after the 2013 crisis emerged.
The defaulters pushed out the trading clients’ money into parallel businesses,
instead of returning the outstanding dues almost to the tune of Rs.5600crore. The amount received as a result of sale of
attached assets will later be paid to as many as 13,000 investors when they
will finally receive justice.
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