Yathuri Associates, owned by Gagan Suri, was the fifth largest defaulter in the NSEL crisis. Gagan Suri failed to disclose company assets to courts and was held in contempt. He was also arrested by the Enforcement Directorate for his involvement in routing funds from NSEL through fake companies. Properties of Yathuri Associates, including lands and buildings, were seized by authorities to recover some of the Rs. 403 crore owed by the company.

2.  NSEL Defaulter
 Gagan Suri’s Business
 Gagan Suri’s Contempt of Court
 Yathuri Associates Property Siezed
 Gagan Suri’s Bail Rejected
 Gagan Suri’s Fake Company
 Assets of Yathuri Associates
 Conclusion

3.  Fifth largest NSEL defaulter - Yathuri Associates.
 Chandigarh based company owned by Gagan Suri.
 Gagan Suri, CEO of Yathuri Associates.

4.  Yathuri Associates owns Chemical Wholesale
business.
 More than twelve employees working with Yathuri
Associates.

5.  Notwithstanding court orders on 25 September,
2014 Yathuri Associates had failed to file affidavits
disclosing their assets.
 Gagan Suri failed to appear before the court and the
decree was passed ex-parte.

6.  Yathuri Associate’s properties
were secured for attachment by
the EOW of Mumbai Police,
Crime Branch and CID.
 Bombay High Court passed
decree on admission for the total
amount of Rs. 356.15 crore on
18 December, 2014.

7.  A special court of the Prevention of
Money Laundering Act (PMLA),
rejected the bail application of
Gagan Suri,
 Gagan Suri arrested by
Enforcement Directorate (ED) for
his alleged involvement in multi-
crore NSEL crisis.
 The court remanded Suri in
judicial custody till March 24,
2014.

8.  Court was informed that Gagan Suri, along with his
brother-in-law Onkar Anand formed several fake
companies
 Funds received from NSEL were routed through
these companies.

9.  Flat ad measuring 1600 square
feet in Panchkula Haryana.
Plots ad measuring
200 square yard in Mohali,
Punjab.

10.  Yathuri Associates have received Rs 361 Cr from
NSEL funds and diverted money to maze companys.
 Yathuri Associates has a payment obligation of Rs.
403. 60 crore.
 Gagan Suri, owner of Yathuri Associates is the 5th
largest defaulter of NSEL.

11. Source: Media Reports &
NSEL Website
Images for representation
purpose only