The document summarizes outcomes from recent High Court Committee meetings regarding the National Spot Exchange Limited crisis. At a meeting on August 21, 2015, the court heard from defaulters Yathuri Associates, with an outstanding amount of Rs. 399.60 cr, and Aastha Group, with an outstanding amount of Rs. 241.75 cr. Yathuri provided required documents while Aastha Group submitted incomplete bank statements. The recovery process from NSEL defaulters has taken over a year with no substantial results, and trading clients who lost money are still waiting for justice.

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