Complainant Sarafs are colluding with defaulters, says NSEL
BY PTI7 July 2015 1:56 AM GMT
PTI7 July 2015 1:56 AM GMT
Pankaj Saraf's complaint to the Economic Offences Wing of the Mumbai Police had led to the FIR in the Rs 5,600-crore NSEL scam two years ago. PD Agro is the fifth-largest defaulter in the NSEL scam owing Rs 687 crore. The Haryana-based company, through its <g data-gr-id="33">arm</g> <g data-gr-id="35">Primezone</g> Developers, entered into a deal with Ram to buy his receivables at <g data-gr-id="34">discount</g> for Rs 54.04 lakh on April 2, 2014, NSEL alleged. The <g data-gr-id="36">Sarafs</g> recovered their money at a discount of 10 per cent, it added.
"This deal is a clear indication of the complainants hand in glove with the defaulters. The said deal is in contravention of the Bombay High Court order which had said a settlement could be reached only with prior approval of FMC," NSEL Joint MD Prakash Chaturvedi told reporters here. The <g data-gr-id="39">Sarafs</g> have kept this deal a secret and not informed the HC committee, EoW, FMC, the MPID (Maharashtra Protection of Interest of Depositors) court or any other investigating agency about the deal, Chaturvedi added. Pankaj and his father Ram account for Rs 4.19 crore of receivables from defaulters traded on NSEL through Capital First Commodities and Way2wealth Commodities, NSEL claimed.
The <g data-gr-id="31">Sarafs</g>, however, could not be reached for comments. NSEL also said genuineness of 13,000 trading clients that have lost money in the scam is suspect. The HC committee, as of June 30, 2015, has received only 4,500 responses on KYC.
“It’s evident that brokers may have mis-sold/<g data-gr-id="25">mis</g>- represented and forged client’s signatures for <g data-gr-id="26">benami</g> transactions using fake PAN and KYC,” Chaturvedi alleged, demanding action against those involved.
“These brokers have given loans through NBFCs for trading in commodities, which is not permitted under law. This raises serious issues. If FTIL and NSEL’s directors can be declared not ‘fit & proper’ by FMC, then why not the brokers and their promoters?
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