NSEL case: 147 bro­kers get no­tices from po­lice

The Times of India (Mumbai edition) - - TIMES CITY -

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.

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