NSEL Reecovery Group

National Spot Exchange Limited was a platform for trading commodities and it came into news in the year 2013. It was due to the payment crisis happened on July 2013. The huge sum of Rs.5600crore was defaulted by the brokerage firms and defaulters. The issue came under scanner of the various agencies since then. Exchange was enforced to stop all trading activities & contracts.  After the payment crisis Securities Exchange board of India (SEBI), Investigating Agencies and NSEL had declared 22 members as NSEL Defaulters.

Investigation of these defaulters and brokers resulted in evidences where fraudulent transactions they made are reveled. According to NSEL and FTIL final merger order, it has been said that the outstanding amounts will be recovered from the selling defaulter’s assets. Hemce pursuing NSEL defaulters for recovery should be of chief importance.

NSEL has always been cooperating with all the investigating processes. They are willing to work with all parties to make sure complete resolution and has been continuously involved in recovery efforts. There has been various recovery efforts carried out by NSEL with the only focus to ensuring that genuine clients receive their claims. NSEL has taken efforts to affect recovery from defaulters. Recovery suits against all defaulters had been filed.

NSEL also lend a hand to Investigative Agencies in recovery process. Time to time NSEL had extended all assistance required to Economic Offences Wing (EOW), to discover & freeze assets of defaulters. Enforcement Directorate (ED) is supporting them to attach assets pertaining to defaulters. 


NSEL has been doing well in getting decrees on admission against 5 defaulters from the Bombay High Court to the sum of Rs. 1233.02 crores. NSEL has also been successful to obtained injunctions against the assets of defaulters from the Bombay High Court in respect of claims of Rs 4515.93 crores. A important part of the entire claim has therefore been secured and Rs 542.99 crores is already paid by NSEL. In view of foregoing, more than 100% of the claims of the traders are secured by way of decree, attachments and injunctions against defaulters. 

NSEL case : Kailash Aggarwal from ARK Imports behind bars

On the grounds of money laundering the Enforcement Directorate (ED) arrested a businessman from Ludhiana in NSEL case. On Friday the they decided to take the actions against Mr.Kailash Agarwal from ARK Imports who is one of the biggest defaulter in NSEL crisis.

The accused, Kailash Agarwal of ARK Imports, had allegedly looted Rs 719.21 crores from trading clients through the NSEL platform. It was his strategy to fool the trading clients by saying that he had stocked woollens of the same worth in his godown. Afterwards, he allegedly defaulted on payments. On Saturday, Aggarwal was produced before an ED court which sent him to the custody of the agency till September 29.

NSEL sources stated that, Aggarwal is among the key accused who is guilty for cheating 13,000 investors of Rs 5,600 crores in 2013. Anubhav Aggarwal, son of Kailash Aggarwal is absconding for a long time and he is currently living in Dubai. They have invested the NSEL’s defaulted money in real estate and most of the funds are diverted to overseas. It was realized that they assured the trading clients about having possession of trading commodities like wool, paddy, wheat, mustard oil at their warehouses at Ludhiana, Samrala and Nawanshahr. If found guilty he can be imprisoned for 7 years.