NSEL CRISIS: Complainant & Defaulter Hand-in-Hand

• Out of Court Settlement

• The Deceitful Deal

• Investor Hand-in-Hand with Defaulters

• Investors not pointing at Defaulters

• Conclusion

Agenda

• Pankaj Saraf is one of the most boisterous investor

• Pankaj Saraf is the investor on whose complain the EOW of Mumbai police filed an FIR in the NSEL crisis case

• Ram Naresh Saraf father of Pankaj Saraf received Rs. 54.04 lakhs from Primezone Developers associate company of P. D. Agro

• Ram Naresh Saraf received money with a 10% discount to settle his outstanding dues with NSEL

Out of Court Settlement

• The 5th largest NSEL defaulter PD Agroprocessers Pvt. Ltd. owns Rs 674.05 crore

• P. D. Agro through its associated company Primezone Developers entered into a fraudulent deal with Ram Naresh Saraf

• The deal was sealed on 2nd April 2015 to clear out his outstanding at a 10% discount, amounting to Rs. 54.04 lakhs

The Deceitful Deal

• The deal is an obvious explanation that the complainant is in hand-in-hand with defaulters

• Saraf has kept this deal a secret & not informed the HCC, MPID Court, FMC & EOW or any other investigating agencies

• This deal is in violation with the Bombay High Court order

• Order conveys that a settlement could only be reached with prior approval of the FMC

Investor Hand-in-Hand with Defaulters

• Investor forums & their leaders are only targeting NSEL & its promoters

• No investors are concerned in assisting the recovery of money from the defaulters

• 7 of the defaulters owes 84% of the total outstanding

• EOW has evidently established that money trail was done by defaulters

Investors not pointing at Defaulters

• This leads us to speculate that similar agreements or deals could have been entered into by the investors

• Identical arrangements or pacts could also have been arrived at by the leaders of forums with the brokers & defaulters 

• This deal indicates their might be a strong connection between investors & defaulters

Conclusion