NSEL found that no formal intervention applications have been filed in any of these bail applications by these associations who claim to represent and protect the interest of the genuine trading clients.

2. AGENDA
 HCC MEETINGS
 ADJOURNED ANTICIPATORY BAIL
 REASON BEHIND NSEL DISTRUST
 NSEL APPEAL
 CONCLUSION

3. HCC MEETINGS
 High Court Committee (HCC) formed by the Bombay High
Court (BHC) to hear the NSEL matters held a meeting on 5th
August 2015
 The following NSEL Defaulters were heard during the meeting
–
 Shree Radhey Trading Corporation
 Aastha Minmet
 Swastik Overseas Corporation

4. ADJOURNED ANTICIPATORY BAIL
 No investor from NIF was present to contest Anticipatory bail
application
 Ramesh Nagpal, MD of the Shree Radhey Trading Company
didn’t attended
 Mr. Pachbola, the advocate of NSEL Defaulter Rajiv Todi of
Swastik Overseas Corporation, was inattentive for the hearing
of Anticipatory Bail

5. REASON BEHIND NSEL DISTRUST
 NSEL found that no formal intervention applications have been
filed in any of these bail applications by NAARA, NIAG and
NIF
 Ram Naresh Saraf and his son Pankaj Saraf, member of NIAG
(Nsel Investor Action Group) caught doing back-door deals
with NSEL Defaulter Prime Zone
 For opposing bail application of NSEL Defaulter Mohit Dewan
of White Water Foods no NIF member was present in MPID
court

6. NSEL APPEAL
 NSEL had sent a copy of letter to NIF, NIAG and NAARA
asking them to support NSEL
 NSEL requested members of these associations to take action
against NSEL Defaulters by filing charge sheet against them
 Urge them to remain present and oppose their Anticipatory Bail
Applications in adjourned hearings in High Court

7. CONCLUSION
 NSEL is left with the only possible conclusion that these vested
interest group are not interested in securing the arrest of the
defaulters
 NSEL can further suspect of some unholy nexus between the
defaulters
 The recent charge sheet filed by the Enforcement Directorate
has also found the entire money trial to the NSEL defaulters