Page 2 - Investors Action Group News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Stay updated with breaking news from Investors action group. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.

Top News In Investors Action Group Today - Breaking & Trending Today

Bombay HC orders payout to NSEL small claimants of Rs 2-10L on priority basis


Bombay HC orders payout to NSEL small claimants of Rs 2-10L on priority basis
​ By
IANS
|
Published on
​ Mon, Mar 8 2021 20:33 IST
|
​ 0 Views
Bombay High Court.. Image Source: IANS News
Mumbai, March 8 : The Bombay High Court has ruled that the competent authority (CA) in the National Spot Exchange Limited (NSEL) payment default case must distribute the amount lying in its escrow account to genuine claimants whose outstanding s between Rs 2 lakh and Rs 10 lakh on a priority basis.
Hearing the appeal of a Pune-based NSEL claimant, Rabibai Mohamad Ismail, a two-judge bench of Justice S.S. Shinde and Justice Manish Pitale ordered that the amount lying in the CA s escrow account be distributed among NSEL claimants with outstanding between Rs 2 lakh and Rs 10 lakh, so that the small claimants are paid off all their dues. ....

Rabibai Mohamad Ismail , Justice Manish Pitale , Justicess Shinde , Ketan Shah , Recovery Association , Bombay High Court , Investors Forum , High Court Committee , Investors Action Group , National Spot Exchange Limited , Action Group , கேதன் ஷா , மீட்பு சங்கம் , குண்டு உயர் நீதிமன்றம் , முதலீட்டாளர்கள் மன்றம் , உயர் நீதிமன்றம் குழு , முதலீட்டாளர்கள் நடவடிக்கை குழு , தேசிய ஸ்பாட் பரிமாற்றம் வரையறுக்கப்பட்டவை , நடவடிக்கை குழு ,

NSEL says investor Ketan Shah objecting payout to small investors


NSEL says investor Ketan Shah objecting payout to small investors
March 08, 2021
×
The NSEL Investors Action Group (NIAG) led by investor Ketan Shah has opposed payout to the small investors of the now defunct National Spot Exchange (NSEL), a release from the exchange said.
The Bombay High Court had ordered the NSEL to immediately release payments due between ₹2 lakh to ₹10 lakh to retail investors of NSEL. However, since Shah objected the court has allowed him to appeal in the Supreme Court.
“Exchange bye-laws permit such mutual distribution from clearing house to small traders while NIAG or any other investor forum did not put any effort or file cases, only NSEL and 63 moons efforts have resulted in the recovery. As per the information available in social media, the personal income of Ketan Shah has increased from ₹16 lakh to ₹16 crore after he started representing so-called investors association and started trading the pain of traders,” NSEL sa ....

Rabibai Mohamad Ismail , Justice Manish Pitale , Ketan Shah , National Spot Exchange , Supreme Court , Bombay High Court , Investors Action Group , Division Bench , National Spot Exchange Limited , Action Group , Small Investors , Retail Investors , கேதன் ஷா , தேசிய ஸ்பாட் பரிமாற்றம் , உச்ச நீதிமன்றம் , குண்டு உயர் நீதிமன்றம் , முதலீட்டாளர்கள் நடவடிக்கை குழு , பிரிவு பெஞ்ச் , தேசிய ஸ்பாட் பரிமாற்றம் வரையறுக்கப்பட்டவை , நடவடிக்கை குழு , சிறிய முதலீட்டாளர்கள் , சில்லறை முதலீட்டாளர்கள் ,