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• Injustice towards Shareholders
• Is NSEL liable ?
• No action against NSEL Defaulters
• FTIL-NSEL merger : Not in Public Interest
 Proposed merger between FTIL & NSEL places shareholders
interests below that of Trading Clients
 Trying to force merger without shareholders approval is
unjust
 NSEL matter is sub judice
 There is still no solid proof that NSEL holds liability
towards affected parties
 Trading Clients are not creditors of NSEL
 Money trail has been linked & established to 22 defaulters
 Assets of some NSEL Defaulters are also attached & seized
by EOW
 No NSEL Defaulter companies are merged
 Resolution should not be at the cost of shareholders
 This is contrary to Section 396 of Companies Act which
states that only if merger is essential in public interest, can
two companies be merged
 Many shareholders representing the equity capital of FTIL
have voted against merger

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FTIL –NSEL Merger not justified

  • 1.
  • 2. • Injustice towards Shareholders • Is NSEL liable ? • No action against NSEL Defaulters • FTIL-NSEL merger : Not in Public Interest
  • 3.  Proposed merger between FTIL & NSEL places shareholders interests below that of Trading Clients  Trying to force merger without shareholders approval is unjust
  • 4.  NSEL matter is sub judice  There is still no solid proof that NSEL holds liability towards affected parties  Trading Clients are not creditors of NSEL
  • 5.  Money trail has been linked & established to 22 defaulters  Assets of some NSEL Defaulters are also attached & seized by EOW  No NSEL Defaulter companies are merged
  • 6.  Resolution should not be at the cost of shareholders  This is contrary to Section 396 of Companies Act which states that only if merger is essential in public interest, can two companies be merged  Many shareholders representing the equity capital of FTIL have voted against merger