Swastik Overseas Corporation, NSEL Defaulters complete overview.

2. AGENDA
 INTRODUCTION
 MANAGEMENT
 PRODUCTS
 ASSETS
 CRISIS
 CONCLUSION

3. INTRODUCTION

4. NSEL DEFAULTERS
 As per media reports Rajiv Todi has been absconding .
 As per media reports (EOW) had arrested Rajesh Mehta, an
accused in the Rs 5,600-crore National Spot Exchange Limited
(NSEL) Crisis.
Falguni Mehta
Proprietor
Rajesh Mehta Rajiv Todi
Partner

5. PRODUCT BRIEF
 Incense Sticks
 Trading Industrial Chemicals
 Food Products
(Edible fat, Edible oil)

6. NSEL DEFAULTERS
 Things have taken a dramatic turn for Swastik Overseas Corporation, which operates out of a
small establishment in a sparsely inhabited commercial complex off Ashram Road.
 The little-known commodities trading firm became a talking point after the Income Tax
Department raided its office on 22 August 2013.
 Swastik Overseas Corporation total dues pending for NSEL stood at Rs. 113.33 CR.
 93.14 CR Outstanding default amount yet to be paid by Swastik Overseas Corporation to NSEL.

7. BOMBAY HC ORDERS AGAINST
NSEL DEFAULTER
 Swastik Overseas has admitted to Rs 101.20 crore and repaid Rs
10.01 crore.
 Bombay HC also ordered that NSEL shall be entitled to recover the
balance amounts plus interests through legal proceedings pending
before the same Court.
 Bombay HC has also given liberty to NSEL to file the decree before
the HC Committee which will enable NSEL to take all steps for
execution of this decree and speedy recovery of monies from the
Defaulters.
Contd.

8.  Bombay HC, on December 18, 2014 has issued a decree on admission
against Gujarat-based Swastik Overseas Corporation.
 Swastik has also been directed to disclose the details of their properties
and the injunction on their dealing with assets and properties
continues.
 The EOW has attached its three shops admeasuring 1,704 square feet,
three flats admeasuring 520 square yard, one commercial office
admeasuring 610 square feet, and three land parcels admeasuring 35.66
hectare in Gujarat

9. ASSESTS

10. CONCLUSION
 Swastik Overseas Corporation is one of the notable NSEL
Defaulters.
 The outstanding defaulted amount is 93.14 Cr yet to be paid by
Swastik Overseas Corporation.
 Bombay HC has given liberty to NSEL to file decree against NSEL
Defaulters.
 Bombay HC also ordered that NSEL shall be entitled to recover the
balance amounts plus interests.