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NSEL Defaulters: Mohan India director owns 15% in mall company

MCA records show Jagmohan owns stake in Mangla Shree; Anil Mangla, wife own 33%

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N Sundaresha Subramanian New Delhi
Last Updated : Sep 02 2013 | 9:41 AM IST
Contrary to the claims of Anil Mangla, the promoter of Mangla Shree properties, the firm is closely linked to Mohan India, a member of National Spot Exchange(NSEL).

According to official filings, Delhi based Jagmohan owns 1.33 lakh shares in Mangla Shree Properties. Jagmohan is the director of Mohan India.

Mangla, who had earlier claimed he or his firm did not have any transaction with Mohan India and that they have not even come across these names, was unavailable for comment. A person who identified himself as Mangla's driver said he was busy. A text message seeking comments did not elicit a reply.

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According to NSEL release last week, Mangla Shree has over Rs 720 crore dues towards National Spot Exchange investors on its trade in sugar contracts. Business Standard in its on the spot check found that Mangla Shree did not have anything to do with sugar and had built a mall in Narela, on the outskirts of Delhi.

Other claims of Mangla suggesting his late brother Naresh Kumar Mangla had control over the company also looked shaky as the list of shareholders as on September 2012 showed that Naresh Kumar held only 4,500 or 0.5% stake in the company.

On the other hand, Anil Mangla and his wife Santosh Mangla controlled 33% of the company.

However, the largest stakeholder is JKG Enterprises, which holds 4.33 lake shares or 48.7% in the company. Though its name suggests it is a registered company, nothing could be found in Ministry of Corporate Affairs website, further deepening the mystery about the real people who have scooted with Rs 5,600 crore.

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First Published: Sep 02 2013 | 9:39 AM IST

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