Conventional wisdom suggests that lenders are on a stronger footing than the borrowers. Indeed, one has often heard stories of recovery agents arm-twisting and bullying borrowers, sometimes even driving them to extreme steps such as suicide. But in the case of the National Spot Exchange (NSEL), it is the borrowers who seem to have the upper hand - they come in imported cars, surrounded by gun-toting private security officers. In comparison, recovery officers appointed by the NSEL are junior officials who are in no position to dictate terms to the borrowers. No wonder, only a small part of the Rs 5,600-crore dues has been recovered so far.