Yathuri Associates & Aastha Group court hearings on the 21st August 2015

1. OUTCOME OF
HIGH COURT COMMITTEE MEETINGS

2. AGENDA
 Purpose of HCC meetings
 HCC meeting on 21st Aug 2015
 Court Hearing of Yathuri Associates
 Court Hearing of Aastha Group
 Conclusion

3. PURPOSE OF HIGH COURT COMMITTEE
(HCC) MEETINGS
 Matters of National Spot Exchange Limited (NSEL) defaulters
are ongoing at HCC meetings in regards to NSEL crisis
 Plenty of legal proceedings & notices are conducted & issued
almost every month
 Main purpose is to resolve & recover defaulted amount from
NSEL defaulters

4. HCC MEETING ON 21ST AUG 2015
 Held on 21st of Aug 2015
 NSEL matters conducted before Justice Dalvi
 Yathuri Associates was listed for hearing
 NSEL defaulter Gagan Suri, Proprietor of Yathuri Associates present
 Aastha Juggernaut was also listed for hearing on that day
 Mohit Aggarwal, Managing Director of Aastha Group present
 Lawyers of both parties were present at the meeting

5. COURT HEARING OF
YATHURI ASSOCIATES
 Outstanding default amount of Rs. 399.60 cr in NSEL crisis
 They submitted required bank statements in court
 They also submitted IT Returns
 Gagan Suri, Proprietor of Yathuri Associates was granted bail
 He is required to remain present as & when required as per
Hon'ble Court’s order

6. COURT HEARING OF
AASTHA GROUP
 Outstanding default amount of Rs. 241.75 crores in NSEL crisis
 Aastha Group submitted incomplete bank statements at HCC meeting
 No possession of required docs of Juggernaut
 Only one bank account details available
 No disclosure of immovable & movable assets
 Current Director of company was asked to whom warrant should be issued
to
 Reply given that there were no Directors as all had resigned
 They also stated that Mohit Aggarwal, Promoter of Aastha Group was the
only one left
 The court then asked to file affidavit for the same

7. CONCLUSION
 Recovery process from NSEL defaulters going on for almost a
year
 Process is taking a significantly long amount of time
 Trading clients who have lost their money on the platform, are
still waiting for justice
 There has been no substantial result as yet
 Speedy recovery process is awaited to bring about relief to
NSEL trading clients