The Supreme Court of India formed a high-level committee, headed by retired Bombay High Court Judge Pradeep Nandrajog, for recovery of money from the defaulters against whom the National Spot Exchange (NSEL) has secured money decrees. NSEL has already secured decrees and arbitration awards of Rs 3,534 crores against the defaulters. Further, defaulters’ liabilities of Rs 760 crores have already been crystallised by the committee appointed by the Bombay High Court.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Proceedings for a decree against NK Protein worth Rs 964 crores is pending before the Bombay High Court. In 2013, investors and traders in NSEL lost about Rs 5,600 crores after the exchange shut trading abruptly leading to a series of defaults. Two of the defaulters have already paid their liabilities worth Rs 196 crores. The claims will be verified by the Supreme Court-appointed committee. The Supreme Court-appointed committee will oversee the sale of assets, attached by the Maharashtra government under the MPID Act and Enforcement Directorate across India.
Find More News Related to Schemes & Committees
India has many cities that are famous for their unique industries, and some of them…
Some deserts are extremely hot, but some remain cold throughout the year. These cold deserts…
In today’s world, news media plays a very important role in sharing information quickly and…
PNB Housing Finance has announced the appointment of Ajai Kumar Shukla as its new Managing…
In a major push towards deepening financial inclusion, the Department of Posts (DoP) and BSE,…
India’s retail inflation, measured by the Consumer Price Index (CPI), increased modestly to 0.71% in…