The NSEL disclosed an agreement entered between Ram Naresh Sharaf and Primezone Developers a company related to Haryana based P D Agro Processors that has defaulted to the tune of Rs 687 crore on the NSEL.
Prakash Chaturvedi, joint managing director of NSEL, said that Sharaf recovered his Rs 54.04 lakh in 2014 but did not inform the court or any legal authority about the settlement. 24 defaulters owe Rs 5,600 crore to 13,000 investors on NSEL.
NSEL said the agreement between Saraf could have been a key reason why NSEL Investors Forum did not oppose the bail plea of Ranjeev Aggarwal, director Primezone, in court and alleged there was illicit relationship.
NSEL said it has received complaints from few trading clients against brokers and pointed out that one investor Achal Agarwal’s KYC documents could be forged.
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