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Ticker

 

Details of Decrees obtained by NSEL against defaulters by BHC Sr. No Name of
Defaulter Amount (in Cr.) Order Date 1 ARK IMPORTS PVT LTD 719.37 20/07/2015 2
YATHURI ASSOCIATES 264.96 18/12/2014 3 JUGGERNAUT PROJECTS LTD. 145.00
23/12/2014 4 AASTHA MINMET INDIA PVT LTD. 12.50 23/12/2014 5 SWASTIK OVERSEAS
CORPORATION 91.19 18/12/2014   TOTAL: Rs. 1233.02  

Details of Decrees obtained after determination of liability by HCC Sr. No Name
of Defaulter Amount (in Cr.) Order Date 1 P.D. AGRO PROCESSOR PVT. LTD. 633.67
16/08/2018 2 YATHURI ASSOCIATES 134.43 30/07/2018 3 WHITE WATER FOODS PVT LTD
84.82 23/07/2018 4 MSR FOOD PROCESSING 8.82 30/07/2018   TOTAL: Rs. 861.74  

 

Details of Arbitration / Conciliation award obtained by NSEL against defaulters
Sr. No Name of Defaulter Amount (in Cr.) Order Date 1 MOHAN INDIA PVT LTD 922.00
01/11/2018 2 LOTUS REFINERIES PVT LTD 252.47 21/09/2018 3 NCS SUGARS LIMITED
58.85 26/03/2018 4 SPIN COT TEXTILES PVT LTD 36.63 26/03/2018   TOTAL: Rs.
1269.95  

 

Details of Amount Crystallised by HCC and accepted by Hon'ble court against
defaulters Sr. No Name of Defaulter Amount (in Cr.) Order Date 1 NAMDHARI FOOD
INT. PVT LTD 51.02 27/02/2017 2 NAMDHARI RICE & GENERAL MILLS 10.39 27/02/2017 3
AASTHA MINMET INDIA PVT LTD 75.57 03/09/2019   TOTAL: Rs. 136.98  

Details of Amount Crystallised by HCC and pending acceptance by Hon'ble court
against defaulters Sr. No Name of Defaulter Amount (in Cr.) Order Date 1 LOIL
CONTINENTAL FOOD LTD 320.02 26/04/2018 & 30/07/2018 2 LOIL HEALTH FOODS LTD
265.87 26/04/2018 3 LOIL OVERSEAS FOODS LTD 77.24 26/04/2018 4 METKORE ALLOYS &
INDUSRIES LTD 83.46 14/09/2018 5 SHREE RADHEY TRADING CO 32.77 30/03/2019 6
VIMLADEVI AGROTECH LIMITED 13.72 08/10/2018   TOTAL: Rs. 793.08  

 

High Court Committee Calendar
Click here for upcoming high court committee meetings    

  Data Pop up About National Spot Exchange Limited (NSEL)   National Spot
Exchange Limited (NSEL), was incorporated in May 2005 as a spot exchange for
trading in commodities. Central Government by a notification dated June 7, 2007
had granted an exemption u/s 27 of the Forward Contracts Regulation Act (FCRA),
to NSEL from complying with all the provisions of the FCRA subject to certain
conditions. In October 2008, NSEL commenced operations providing an electronic
trading platform to willing participants for spot trading of commodities, such
as bullion, agricultural produce, metals, etc. Like NSE and BSE, NSEL has its
registered trading members, commonly referred to as brokers, who execute
commodity trades on the NSEL platform on behalf of and in accordance with the
instructions of their respective clients across India. The trading operations of
NSEL was suspended with effect from August 6, 2013, only after a notification
dated September 19, 2014, when the Central Government withdrew the gazette
notification dated June 5, 2007.   more >>   e-Series Rematerialization &
Financial Closure
National Spot Exchange Limited (NSEL) has received ‘No Objection’ from Forward
Markets Commission to proceed with the process of Rematerialization and
Financial Closure of e-Series. Pursuant to this, NSEL has issued the circular
no. NSEL/DP/2014/014 dated April 04, 2014.

e-Series unit holders who intend to rematerialize their holdings can follow the
process as detailed in the above circular. Unit holders may kindly note that
this process of rematerialization is different from the earlier process of
Surrender Request (SRF) which has been since discontinued. The process of
rematerialization shall be possible only for such unit holders whose holdings
match or exceed the exact denomination of the underlying metal. Hence, it is
strongly advised to verify the same from the latest stock report before
initiating the process. more >>      

 

 

more >>     Important Updates
 * CA Naresh Singla, Auditor of defaulter Lotus Refineries Pvt Ltd for year
   2012-13, is found Guilty of Professional Misconduct falling within clause 7
   of Part I of 2nd Schedule of Chartered Accountant Act,1949 by ICAI
   Disciplinary committee . CA Naresh Singla is directed to deposit fine of Rs.
   1 Lakh. Also his Name will removed from the Registered member for Six Months.
 * CA Mulraj Gala, Auditor of defaulter Lotus Refineries Pvt Ltd for year
   2011-12, is found Guilty of Professional Misconduct falling within clause
   5,7,8,9 of Part I of 2nd Schedule of Chartered Accountant Act,1949 by the
   ICAI Disciplinary committee. Also Committe ordered for removal of CA Mulraj
   Gala Name from the Register member for one year along with fine of Rs. 1
   Lakh.
 * We are looking for potential buyer for the attached list of defaulter’s
   Immovable assets
 * ABA of Mr. Kailash Agarwal, Director of NSEL’s biggest Defaulter – ARK
   Imports, has been rejected by PHHC
 * NSEL has obtained decree for Rs. 32.77 Crores on Shree Radhey Trading Company
   from Hon’ble Bombay High Court
 * Bail of Mr. Gagan Suri, Director of NSEL’s Defaulter M/s. Yathuri Associates,
   granted by Hon’ble MPID Court
 * Bail of Mr. Gagan Suri, Director of NSEL’s Defaulter M/s. Yathuri Associates,
   dismissed by Hon’ble Bombay High Court
 * No-Coercive order restraining EOW to take coercive step against Mr. Janak Raj
   Singh of LOIL Group is stayed by Hon’ble Punjab & Haryana High Court vide
   order dated 22.07.2021
 * ABA of Mr. Kailash Agarwal, Director of NSEL’s biggest Defaulter, dismissed
   in Ludhiana Court
 * Hon’ble Supreme Court dismisses SLP filed by few trading clients whose
   outstanding are above Rs. 10 Lakh
 * The Hon’ble Bombay High Court Order dated 18.02.2021 allowing sale of Civil
   Lines, Delhi property belonging to Mohan India Group
 * Defaulter, Mohan India Group, Property Auction Sale Notice dated 08th
   February 2021 by Deputy Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Defaulter, Mohan India Group, Property Auction Sale Notice dated 04th January
   2021 by Deputy Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * The Hon'ble Supreme Court order dt. 14.12.2020 dismissing the SLP, filed by
   DGM Developers Pvt. Ltd. owned by NSEL Defaulter – White Water Foods with
   regard to property situated at Shimla, Himachal Pradesh.
 * Hon’ble MPID court Order for bail cancellation of Mr. Kailash Aggarwal,
   Director of NSEL Defaulter – ARK Imports, on the ground of breach of
   condition.
 * Defaulters Property Auction Sale Notice dated 02nd September 2020 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Public Notice Issued against NSEL Defaulter - ARK Imports Private Limited
   * The Tribune – 23 September 2020
   * Punjab Kesari – 23 September 2020
 * Cops want NSEL case accused, Mr. Kailash Aggarwal of ARK Imports bail
   cancelled
 * NSEL scam Extradition plan to extradite Mr. Anubhav Aggarwal of ARK Imports
   sent to Centre
 * Rs. 5,600 Crs scam suspect, Mr. Anubhav Aggarwal of ARK Imports caught in Abu
   Dhabi
 * Defaulters Property Auction Sale Notice dated 17th August 2020 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Defaulters Property Auction Sale Notice dated 03rd August 2020 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Defaulters Property Auction Sale Notice dated 09th March 2020 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Defaulters Property Auction Sale Notice dated 06th March 2020 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Based on complaint filed by NSEL, the ICAI committee has found Auditor of
   Defaulter - Lotus Refineries, C.A. Devraj Mulchand Gala, guilty for not
   maintaining compliance with auditing standard. Order Awaited.
 * Order passed by Hon’ble Punjab & Haryana High Court, dismissing the
   no-coercive order taken by NSEL defaulters LOIL group and ARK imports
 * Defaulters Property Auction Sale Notice dated 15th January 2020 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Defaulters Property Auction Sale Notice dated 01st January 2020 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Delhi High Court via order dated 27.09.19 has granted injunction on the
   properties of the judgment debtors (Mohan India & 9 others) and have
   restrained them from alienating/disposing any of their properties directly or
   indirectly.
 * 33rd M. M. Ballard Pier Court issued Bailable warrant against Mr. Gagan Suri
   of defaulter Yathuri Associates in Section 138 matter.
 * Withdrawal order dated 29-08-19 passed by Punjab & Haryana High Court against
   Genex Infratech & Genex Polyfab (Group companies of ARK Imports) Challenging
   the Government of Maharashtra Notification under MPID Act.
 * BHC Order dated 22nd August, 2019 stating that NSEL is not an Financial
   Establishment within the purview of the Maharashtra Protection of Interests
   of Depositors in Financial Establishments Act, 1999.
 * Supreme Court sets aside merger order of NSEL with 63 moons
 * Defaulters Property Auction Sale Notice dated 15th July 2019 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Mohan India restrained from creating third party rights in respect of its
   properties by DHC in the execution petition filed by NSEL against the
   settlement award passed by BHC
   * Execution Petition
 * Defaulters Property Auction Sale Notice dated 15th January 2019 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Defaulters Property Auction Sale Notice dated 16th November 2018 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Defaulters Property Auction Sale Notice dated 26th September 2018 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Defaulters Property Auction Sale Notice dated 25th July 2018 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * MPID Court order – Rejection of application filed by Ms. Seema Sharma, w/o
   Mr. Arun Sharma, Lotus Refineries for defreezing the bank account with
   direction to the Competent Authority to return the amount laying in the said
   accounts.
 * Defaulters Property Auction Sale Notice dated 16th May 2018 by Deputy
   Collector and Competent Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Punjab & Haryana High Court dismissed Criminal writ filed by White Water and
   PD Agro against Enforcement Directorate
 * Recovery Update as on February 2018
   
   
   
   Category Amount (Rs. Crs.) NSEL Escrow Account 19.20 MPID 01.00 Total 20.20

 * MPID Court order - travel rejection of Mr. Mohit Singhal & Shilpa Singhal,
   Director and Promoter of Aastha Minmet Private Limited
 * MPID Court order for making the attachment absolute regarding the properties
   of Mohan India
 * Mohan India Property Auction Sale Notice by Deputy Collector and Competent
   Authority (NSEL)
   * HDFC Reality E-Auction Details
 * Swastik Property Auction Sale Notice by Deputy Collector and Competent
   Authority (NSEL)
   * HDFC Realty E-Auction Details
 * 6 Orders passed by Punjab & Haryana High Court dismissing the Six Writ
   Petitions on jurisdiction ground filed by White Water and LOIL group
   challenging State of Maharashtra notification
 * MPID Court vide order dt 18.07.17 has allowed EOW to issue NBW against
   Anubhav Agarwal
 * Order Dated 25th July 2017 passed by the Hon'ble Committee in respect of P.D.
   Agro Processors Pvt. Ltd. & Group of Companies
 * Hon'ble Highcourt Committee Meeting Notice
 * MAHA Govt- appointment of HDFC for valuation
 * The government of Maharashtra has appointed two full time separate Competent
   Authorities under the MPID Act for NSEL only. Attached is the G.R. Dt.8th May
   2017 for perusal of all.
   
 * As per HC order Brizo Realty company (Aastha Minment creditor) has deposited
   Rs. 8,30,00,000/- (Rs. Eight crores Thirty Lakhs Only) in the Registry on 6th
   March, 2017
   
 * Court Order - Ranjeev Aggarwal of P D Agro/Primezone Developers to be
   arrested for not complying with his bail condition.
   
 * Order dated 16th January, 2017 passed by the Hon'ble Committee on the
   Application of LOIL group of companies.
   
 * Order Dt. 24th January passed by PMLA Court in PMLA Case No. 4/16 thereby
   issuing the process against ARK Group and Genex group
   
 * Narayan Nageshwar Rao - NCS Sugars Ltd. Bail Modification Order
   
 * Order passed by MPID court in MA 160/2016 related to Mohan India property
   sale
   
 * MPID court cancelled bail granted to Rajesh Mehta
   
 * Swastik Property Auction Sale Notice
   
   * Terms and condition of Ahmadabad Properties
 * Red Chilly & Black Pepper Auction Sale Notice
   
   * Bid Proforma Red Chilly
   * Bid Proforma Black Pepper
   * Terms and Conditions
 * Mohan India Auction Sale Notice
   
   * Knight Frank order
   * Terms and condition of Delhi & Bikaner Properties
 * HCC order dated 2nd September 2014 prohibiting NSEL to disburse from the
   Escrow account
 * List of assets of defaulters attached by EOW
 * FMC’s complaint letter against Members
 * Ketan Shah's complaint against Motilal Oswal Wealth Management Pvt. Ltd. and
   Philip Commodities India Pvt. Ltd.
 * Letter to NSEL Aggrieved and Recovery Association (NAARA) , NSEL Investor
   Forum (NIF) , NSEL Investors Action Group (NIAG) - Request for finding
   potential buyers for immovable assets of some of the defaulters of NSEL dated
   13.08.2015.
 * Letter to NSEL Investor Forum (NIF) , NSEL Aggrieved and Recovery Association
   (NAARA) , NSEL Investors Action Group (NIAG) regarding Intervention in bail
   applications of the NSEL defaulters dated 13.08.2015.
 * NSEL has obtained decrees on Aastha Minmet India Pvt. Ltd ., Juggernaut
   Projects Ltd. , Swastik Overseas Corporation , Yathuri Associates , and ARK
   Imports Pvt Ltd. from Bombay HC
 * Notice of Motion No. 998 of 2014 filed by Defendant No. 20 (Primezone
   Developers Pvt. Ltd.) in Notice of Motion (L) No. 807 of 2014 in Suit No. 781
   of 2014 and Affidavit of Mr. Ranjeev Agarwal, Director, Primezone Developers
   Pvt. Ltd. in support thereof.
 * Agreement dated 2nd April, 2014 between Primezone Developers Pvt. Ltd. (“the
   Indebtedness Obliger”) and Mr. Ram Naresh Saraf (“the Obligee”) who happens
   to be the father of Mr. Pankaj Saraf, Complainant against NSEL
 * Letter dated 3rd June, 2015 addressed to Mr. Arvind Wadhankar, Senior Police
   Inspector (EOW) and Mr. Dhananjay Kamlakar, Joint Commissioner of Police
   (EOW) with respect to Primezone Developers Pvt. Ltd. and Mr. Ranjeev Agarwal
 * Police Custody Remand against 3 Brokers
 * Offers are invited for purchase of black pepper and red chilly belonging to
   Shree Radhey Trading Co. stored at Shri Krishna Cold Storage and Foods,
   Janata Road, Hareti, Saharanpur 247001, UP.
 * Bids invited by NSEL for sale of Ferrochrome at S.No. 64, Ravivalasa Village,
   Tekkali, District Srikakulam, AP
 * Sealed Bids are invited for sale of TMT Bars of Aastha Minmet India Pvt. Ltd.
   located at Kurnool dist. , Andhra Pradesh
 * Sealed bids are invited for sale of Land of Aastha Minmet India Pvt. Ltd.
   situated at Cuttack, Orissa
 * Sealed bids are invited for sale of Land of Aastha Minmet India Pvt. Ltd.
   situated at Rangareddy, Telangana
 * HC Committee recommends sale of goods held by Metkore Alloys and Namdhari
   Group
 * Circular - Proforma for submitting information pertaining to National Spot
   Exchange Ltd. (NSEL)
 * Form for submitting information pertaining to NSEL
 * Details of Warehouse Visit by Members
 * Details of NSEL Members acting as CnF Agents

   

Bloomberg TV – October 21, 2015 : Panel Discussion featuring Mr. Prakash
Chaturvedi, Chief Executive Officer, NSEL Zee Business – October 21, 2015 :
Panel Discussion featuring Mr. Prakash Chaturvedi, Chief Executive Officer, NSEL
Zee Business – July 29, 2015 : Exclusive Interview of Mr. Prakash Chaturvedi,
Chief Executive Officer, NSEL ET Now - Hot Commodities – July 22, 2015 :
Exclusive Interview of Mr. Prakash Chaturvedi, Chief Executive Officer, NSEL
more >>

 

   

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