The decree comes as a huge boost for NSEL, as it fixes responsibility for 13 per cent of the total loss to investors on ARK.

1. NSEL WINS DECREE
AGAINST ARK IMPORTS

2.  ARK Imports Pvt Ltd’s, a Ludhiana-based wool trading and
manufacturing firm
 ARK Imports is managed by Kailash Agarwal & Anubhav
Agarwal
 ARK Imports is one of the major defaulters in NSEL Crisis.
 ARK Imports were allegedly involved in swindling of NSEL
monies
INTRO

3.  ARK had a total payment obligation of Rs 719.50 crore
 Of which the company paid a small sum
 Considering interest on dues, the company owes NSEL Rs
719.20 crore as on July 27
OBLIGATION ON ARK IMPORTS
Kamal Agarwal Annubhav
Agarwal

4.  On July 20th 2015, judge S J Kathawala of the Bombay High
Court passed a decree on ARK
 The decree for admission of amount Rs 719.37 crore
 ARK Imports is asked to pay default amount at interest of
18% p.a. from date of default till date of payment
BOMBAY HC ORDERS

5.  NSEL has also obtained
injunctions to the tune of
Rs 3,055.27 crore from 17
defaulters
 So, decrees and injunctions
worth Rs 4,288.29 crore
have been awarded in
favour of NSEL for recovery
 “The only solution is that all
victims should get together
on a common mission of
recovery rather than
running vested interest
agenda of someone against
NSEL,” said Chaturvedi,
Jt.Md NSEL
DECREES & INJUNCTIONS ON NSEL
DEFAULTERS

6.  This decree passed by the Bombay High Court is a major shot
in the arms of NSEL’s recovery efforts.
 The NSEL has been relentlessly working to recover the
amounts due from these defaulters.
 The decree comes as a huge boost for NSEL, as it fixes
responsibility for 13 per cent of the total loss to investors on
ARK.
CONCLUSION

7.  The amount to be recovered through the decree will be put in
the NSEL escrow account
 The total amount secured for recoveries stands at Rs
4,288.29 crore, out of which Rs 1,233.02 crore is by way of
Decree on Admission and Rs 3,055.27 crore is through
injunction from a total of 17 defaulters at present
 NSEL want’s stakeholders to join the sustained battle against
the real culprits.
 With their cooperation, NSEL will be able to formulate a
holistic strategy, and plan to effect speedy recovery from the
defaulters