HCC Proceedings of NSEL Defaulters

NSEL Defaulters called at HCC meeting

Aastha Minmet / Juggernaut

Yathuri Associates

Namdhari Foods

White Water

P.D. Agro Processors

Aastha Minmet / Juggernaut No one showed up when matter was initially called out at HCC meeting

Later VAT Returns & VAT payment challan were presented

However presented VAT documents were not taken on record

Aastha directed to file VAT Returns & VAT payment challan with their affidavit & appear at next meeting

NSEL brought to notice of HCC that Mohit Agarwal , M.D. of Aastha Group was not cooperating with proceedings of Committee & is absent when his debtors are present

Mohit Agarwal is directed to be present on next date & comply with earlier directions & file required documents

Matter stands adjourned on the 5th of October 2015

Yathuri Associates No one was present on behalf Yathuri Associates

HCC detected that Mr Gagan Suri Proprietor of Yathuri Associates was not co-operating with ongoing proceedings

NSEL was directed to file their Affidavit for determination of liability, same was filed

HCC directed NSEL to serve a copy of affidavit to Yathuri

Suitable recommendations for Yathuri to appear before HCC will have to be given to Bombay High Court

Application No 47 for sale of Sugar arguments at meeting NSEL pointed out that sugar was not in a good condition Mr Suri was ready & willing to buy the same for Rs 1 lakh HCC was of the view that bids should be called for sale of Sugar on

“as is where is basis & recommendations can be made to Bombay High Court

Namdhari Foods Namdhari Foods submitted that paddy has been sold as per HC order

Money from sale of paddy is lying with Competent Authority

Namdhari not aware whether goods were lifted or not

Namdhari Foods was given an affidavit filed by NSEL, reply to which to be filed by 10th October 2015

Reply to be filed with additional directions to comply with earlier directions

Failing compliance to directions, applicable recommendations will be made by Committee to Bombay High Court

Matter now stands adjourned on the 10th of October 2015

White Water White Water informed HCC that no notices concerning meetings of

committee post 28thApril 2015 were received

Adjournment was asked by White Water

Last chance with directions that the clients are present with relevant documents on 10th October, 2015

NSEL has filed Affidavit for crystallization of liability & copy of same handed over White water

NSEL strongly objected & stated that White Water should remain present & should be directed to comply with earlier order of HCC

P.D. Agro Processors P.D. Agro requested stay of proceedings due to appeal pending in High

Court

They submitted that pending appeal is likely to be listed on 13th October 2015 in High Court

NSEL submitted that PD Agro had not taken any steps for getting appeals listed

8 adjournments have been given till date to P. D Agro

NSEL further argued that in absence of stay from High Court, HCC should recommend High Court to issue directions to appear before HCC

NSEL has filed affidavit for crystallization of liability & copy of same is to be served for record to PD Agro

Matter stands adjourned on the 10th of October 2015

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