Court Proceedings of NSEL DefaulterVIMLADEVI AGROTECH LTD

Contents

Scheduled High Court Committee Meeting

NSEL Defaulter Vimladevi Agrotech Ltd Affidavit filed by Vimladevi Aggrotech Findings of Vimladevi Aggrotech’s

Affidavit NSEL’s suggestion to HCC Conclusion

Scheduled High Court Committee Meeting

High Court Committee meeting was held on 26th of September 2015

National Spot Exchange Ltd. (NSEL) Defaulters heard:

Vimladevi Aggrotech Swastik Overseas Aastha Minmet / Juggernaut

NSEL Defaulter Vimladevi Agrotech Ltd

Vimladevi Agrotech Ltd, was established in Kota city, Rajasthan in 2007

Co founders are Chandra Mohan & Varun Gupta

Deal with soybean, refined oil, de-oiled cake & mustard crude oil

Owe Rs 13.94 crores to NSEL

Affidavit filed by Vimladevi Aggrotech

Documents relating to Vimladevi Aggrotech were required to be produced to the High Court Committee (HCC)

Affidavit was filed by Advocate appearing on behalf of Vimladevi Aggrotech

Filed Affidavit stated documents which were directed by HCC to be produced were in the custody of the Economic Offences Wing (EOW)

Findings of Vimladevi Aggrotech’s Affidavit

HCC inspected the affidavit submitted by Advocate of Vimladevi Aggrotech

Committee was of the opinion that the direction as allotted by them in the notice issued to Vimladevi Agrotech last time had not been complied with

There were also no statements made regarding the documents coming forth from Vimladevi

NSEL’s suggestion to HCC

Matter of Vimladevi Aggrotech is before the Honorable High Court

NSEL hence suggested HCC may make a recommendation to High Court that Vimladevi is not co-operating

No intention to comply even with the directions of the High Court were seen

Due to no support by Vimladevi, the matter should now be taken up by the High Court itself

Conclusion HCC was of the opinion that Vimladevi was not cooperating

They also observed that Vimladevi had no intentions to comply with directions of High Court

HCC therefore had no choice but to rely on documents that were submitted by NSEL

NSEL had submitted their affidavit dated 27th April 2015 & a copy of the same was served upon Vimladevi Agrotech

Committee will now make appropriate recommendation to High Court on basis of those documents submitted by NSEL

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