 "Investors move high court against NSEL")
Even as a group of investors moved the high court here on Monday against the National Spot Exchange Ltd (NSEL) on the payment crisis, Kirit Somaiya, president of Investors’ Grievances Forum said the list of sugar stocks that NSEL filed to the Forward Markets Commission (FMC) was bogus.
Somaiya, national secretary of the Bharatiya Janata Party, visited the warehouses of two defaulting companies, Mohan India and Tavishi Enterprises, at Village Khera Kalan in Delhi. “There were no stocks at the warehouses.”
Both belong to one Jag Mohan and Jai Shankar Shrivastav. According to the defaulter list announced by the NSEL, Mohan India owes Rs 575 crore and Tavishi Enterprises Rs 333 crore to the exchange, as per the defaulter list announced today by NSEL.
"I found many of these godowns empty and its shocking that these godowns sizes are 20,000 square feet each i.e. maximum capacity of storage of only 50,000 bags,” Somaiya said.
Somaiya says it is sad that instead of taking criminal action, freezing bank accounts and seizing assets of NSEL and its promoters, the UPA govt is going ahead with a cover up operation. The Bombay HC will hear the petition by August end.
Somaiya, national secretary of the Bharatiya Janata Party, visited the warehouses of two defaulting companies, Mohan India and Tavishi Enterprises, at Village Khera Kalan in Delhi. “There were no stocks at the warehouses.”
Both belong to one Jag Mohan and Jai Shankar Shrivastav. According to the defaulter list announced by the NSEL, Mohan India owes Rs 575 crore and Tavishi Enterprises Rs 333 crore to the exchange, as per the defaulter list announced today by NSEL.
Also Read
Somaiya said one of the company was formed on 24th January 2013 while its paid up capital was just Rs one lakh. These companies have shown 3,32,000 tonnes sugar worth Rs 1,094 crores in these 6 warehouses. NSEL has handed over Rs 952 crores to them.
"I found many of these godowns empty and its shocking that these godowns sizes are 20,000 square feet each i.e. maximum capacity of storage of only 50,000 bags,” Somaiya said.
Somaiya says it is sad that instead of taking criminal action, freezing bank accounts and seizing assets of NSEL and its promoters, the UPA govt is going ahead with a cover up operation. The Bombay HC will hear the petition by August end.