NSEL case: 147 brokers get notices from police
From P 1
On the NSEL case, the police have begun issuing notices to 147 brokers asking them to inform investigators about brokerage they earned. “Around 15 brokers, including from Anand Rathi Commodities, Geojit, Emkay Commodities, Nirmal Bang and Motilal Oswal, have been issued notices about brokerage. Not all are accused in the case,” said an officer. “We want to know the brokerage they earned in the case. We have asked them to submit their brokerage reports, certified by chartered accountants. We may attach some more properties.”
The EOW has recently filed the fourth chargesheet against those accused in the case.
The competent authority (CA) appointed in the NSEL case has completed the first phase of repaying money (Rs 30 crore) to 12,735 investors, in an equitable ration of 0.75%. This was the first payment to investors by using money fetched through auctioning properties of the accused. Small investors aren’t happy with this system of disbursement, saying their dues must be cleared first. “The CA is going to start disbursement in two weeks. The CA, as of today, has Rs 50 crore in account to return to investors. Rs 58 crore will be cleared from NSEL’s escrow account,” said a source. It is learnt that the CA has applied before the court saying small investors should be repaid at this stage. Small investors fall in the category of those who invested between Rs 2 lakh and Rs 10 lakh. There are 6,445 such investors. The CA will require Rs 163 crore if it has to clear the dues of all small investors first.