Mohan India, one of the largest defaulter of NSEL crisis.

2.  NSEL Defaulter
 Diversion of Funds
 Aberration of Funds
 Defaulters Luxurious Lifestyle
 Mohan India’s Properties
 BOMBAY HC Orders
 Conclusion

3.  Mohan India Pvt. Ltd is one of the
largest defaulters of the NSEL crisis.
 Delhi based Mohan India and its
sister concern Tavishi Enterprises is
led by Jagmohan Garg & J.S
Srivastava as company’s director’s.
 The group companies are promoted
by this influential business family
from north-west Delhi.

4.  As buyer of 216,324 tonnes of sugar – Mohan
India group was one of the major Defaulters of
NSEL.
 Close to Rs. 600 crore, out of the Rs. 852 crore
that they got, were paid to several unrelated firms
and close Rs. 200 crore to related entities.

5.  Jagmohan Garg, it is said, had diverted NSEL
funds to several ventures such as the five star
hotel – Radisson, real estate properties viz.
 Mera Baba Reality projects in Pitampura and
Rohini and a lot more, and all of those were
turned away into these ventures from the money
that returned from the related entities to
unrelated entities.

6.  Jagmohan Garg’s associate, J.S Srivastava owned
luxury cars like Audi 7, Mercedes SUV, Bentley and
Fortuner.

7.  Jagmohan Garg’s ‘Mera Baba Reality’ has numerous projects in its
realm viz. D-Mall in Pitampura and Rohini in New Delhi.
 He owns several other properties which include Radisson Hotel –
a five star grade and S P Goenka School in Delhi.
 Around 500 acres of land in Bikaner belonging to Mohan India
along with a bungalow plot admeasuring 14,000 Sq. yard in New
Delhi.

8.  Mohan India group has been instructed to disclose
their properties by Bombay HC while hearing NSEL’s
suit against Mohan India Group.
 The group has been directed to divulge all their asset
details within 4 weeks.

9.  If Mohan India wishes to deal with seized assets, Bombay
HC has ordered for bank guarantees of the same.
 Mohan India will have to furnish a bank guarantee worth
Rs 690.82 Crore valid for five years and Tavishi for Rs
347.02 Crore in favour of the HC.
 They will also have to pay interest at 18% from the date of
filing of the suit till the bank guarantee is furnished.

10.  Mohan India, the largest defaulter of NSEL, has invested
the money illegitimately earned by dwindling NSEL’s
trading clients and NSEL itself.
 Mohan India Group has looked for all stealth recourses to
evade pay-outs, illegitimately earned by dwindling NSEL’s
trading clients and NSEL itself
 All of his properties were attached by the EOW of Mumbai
Police

11. Source: Media Reports
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Images for representation purpose only