Comments
With the Mohan India group taking steps to settle its Rs 771 crore outstanding dues to the National Spot Exchange Ltd (NSEL), other borrowers too have approached the exchange for a settlement.
NSEL promoter Jignesh Shah told Business Line that six more borrowers have come forward for a financial agreement with the exchange. The Economic Offences Wing (EOW) of the Mumbai police is getting updates about these developments, he said.
NSEL is in a spot due to the Rs 5,500 crore payout scam.
On Friday, the EOW had allowed Mohan India to liquidate its sugar stock worth Rs 90 crore. The proceeds of the sale would be used for settling the dues of the investors.
Rajvardhan, Additional Commissioner, EOW, said that Shah had approached the wing with the likely settlements with the borrowers. But it does not absolve them of the charges. The investigation against the borrowers will continue, he said.
He said properties and assets worth Rs 3,109 crore have been frozen. It includes properties with a book value of Rs 2,679 crore, shares of Rs 252 crore and bank deposits of Rs 172 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.