Court Proceedings of NSEL Defaulter VIMLADEVI AGROTECH LTD
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Transcript of Court Proceedings of NSEL Defaulter VIMLADEVI AGROTECH LTD
Court Proceedings of NSEL DefaulterVIMLADEVI AGROTECH LTD
Contents
Scheduled High Court Committee Meeting
NSEL Defaulter Vimladevi Agrotech Ltd Affidavit filed by Vimladevi Aggrotech Findings of Vimladevi Aggrotech’s
Affidavit NSEL’s suggestion to HCC Conclusion
Scheduled High Court Committee Meeting
High Court Committee meeting was held on 26th of September 2015
National Spot Exchange Ltd. (NSEL) Defaulters heard:
Vimladevi Aggrotech Swastik Overseas Aastha Minmet / Juggernaut
NSEL Defaulter Vimladevi Agrotech Ltd
Vimladevi Agrotech Ltd, was established in Kota city, Rajasthan in 2007
Co founders are Chandra Mohan & Varun Gupta
Deal with soybean, refined oil, de-oiled cake & mustard crude oil
Owe Rs 13.94 crores to NSEL
Affidavit filed by Vimladevi Aggrotech
Documents relating to Vimladevi Aggrotech were required to be produced to the High Court Committee (HCC)
Affidavit was filed by Advocate appearing on behalf of Vimladevi Aggrotech
Filed Affidavit stated documents which were directed by HCC to be produced were in the custody of the Economic Offences Wing (EOW)
Findings of Vimladevi Aggrotech’s Affidavit
HCC inspected the affidavit submitted by Advocate of Vimladevi Aggrotech
Committee was of the opinion that the direction as allotted by them in the notice issued to Vimladevi Agrotech last time had not been complied with
There were also no statements made regarding the documents coming forth from Vimladevi
NSEL’s suggestion to HCC
Matter of Vimladevi Aggrotech is before the Honorable High Court
NSEL hence suggested HCC may make a recommendation to High Court that Vimladevi is not co-operating
No intention to comply even with the directions of the High Court were seen
Due to no support by Vimladevi, the matter should now be taken up by the High Court itself
Conclusion HCC was of the opinion that Vimladevi was not cooperating
They also observed that Vimladevi had no intentions to comply with directions of High Court
HCC therefore had no choice but to rely on documents that were submitted by NSEL
NSEL had submitted their affidavit dated 27th April 2015 & a copy of the same was served upon Vimladevi Agrotech
Committee will now make appropriate recommendation to High Court on basis of those documents submitted by NSEL
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