2.  Recoverable amount from NSEL Defaulters
 Competent Authority Ajit Sakhare
 Attached immovable assets of NSEL defaulters
 Tittles Deeds of Attached NSEL Defaulters properties
 NSEL Defaulters assets in warehouses
 Deterioration of assets in warehouses
 Sale of Ferrochrome not yet resolved
 Other Movable Assets of NSEL Defaulters
 Why is Sakhare dawdling on NSEL Defaulter assets?
 Conclusion

3.  NSEL crisis was weighed at an astounding amount of around
Rs 5,600 crores
 Recoverable amount is estimated to be around Rs 5,300
crores
 Amount will be recovered from the sale of properties
belonging to defaulters
 The amount will later be paid to as many as 13,000 trading
clients
 So, when is this said amount actually going to reach the
hands of the trading clients ?

4.  Focus of investigation agencies has been more on fixing
culpability, rather than ensuring investor refunds
 MPID court had appointed Deputy Collector of Mumbai, Ajit
Sakhare, as Competent Authority on 17 Aug 2014
 He has the power to dispose attached defaulters’ assets
 Economic Offences Wing (EOW) has submitted 3 lists of
properties secured for attachment to Sakhare

5. Defaulter Property Total valuation
Mohan India Delhi Civil Lines and Bikaner,
Rajasthan
330 crore
ARK Imports 74 land parcels in Ludhiana,
Punjab
600 crore
Aastha Minmet 45 acres in Cuttack, Odisha 10 crore
Vimladevi Agrotech Soyabean and mustard
solvent plant at Kota,
Rajasthan
12-14 crore
954 crore

6.  Assets belonging to defaulters of NSEL have been attached by EOW
 Their valuations have also been done by independent real estate
consultants in case of land & property
 Title deeds for all these immovable assets are clear & undisputed
 Immovable assets can be immediately liquidated
 Expected amount accounts to about one-fifth of the total monies
owed by all defaulters put together which is substantial amount

7.  Black pepper
 Red chili
 Raw wool
 TMT bars
 Ferrochrome

8.  As Sakhare continues to be sluggish, the issue that arises is the
deteriorating condition of commodities
 Black pepper, red chili & raw wool can be affected by fungi in
prolonged unsuitable storage conditions
 Commodities have been lying in warehouses for the last five
months
 Valued between Rs 70-80 crores at that time, their value is
depreciating due to deteoriation.
 The need of the hour is to ascertain if there has been any
damage to the commodities due to their long exposure to
moisture in the air

9.  Steelmaker SAIL has indicated its willingness to purchase the
total quantity of ferrochrome raw material available
 High Court Committee (HCC) has already cleared the sale of
the commodities
 The reasoning why the sale has not been resolved yet is
defied

10.  Personal properties of defaulters are also with Sakhare
 15 vehicles worth about Rs 5 crores are with EOW & Sakhare
 He has the green light to begin disposing these as well

11.  Now all that Ajit Sakhare has to do is draft advertisements
inviting bids & then dispose the assets to highest bidders.
 The necessary paperwork has already been done.
 The original title deeds to the assets are now with the EOW and
their respective copies with Sakhare
 He has to now only gather originals to hand them over to
winning bidders.

12.  Clearly, the onus of disposing all these assets in conformity with
the HCC’s order lies fully upon Sakhare
 It is only when he acts that the recoveries of the lost monies can
begin & the innocent investors can get their money back