True or false? NSEL claims to secure recoveries worth Rs 1,233 crore
Jan 13, 2016, 20:35 IST
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The Rs 5,600 crore NSEL scam hit victims can heave a sigh of relief. The National Spot Exchange Limited has successfully secured recoveries worth Rs 1,233.02 crore from 23 defaulters. These defaulters own a total amount of Rs 4,515.93 crore."We have already secured recoveries amounting to Rs 1,233.02 crore by way of decree on admission against 5 defaulters and through injunctions from a total of 18 defaulters with outstanding of Rs 4,515.93 crore as of December 31, 2105,” said Prakash Chaturvedi, chief executive of NSEL as per a PTI report.
He added, “With this, we have moved another step in the right direction, and look forward to similar decrees against other defaulters.” The NSEL scam was unearthed in 2013, which has affected nearly 13,000 investors in the country.