Hope to recover Rs 4,000 cr from top 5 borrowers of NSEL: Investors

Hope to recover Rs 4,000 cr from top 5 borrowers of NSEL
NSEL Investors Forum said it expects to recover Rs 4,000 crore from top five borrowers of the exchange, reported PTI.

National Spot Exchange Ltd (NSEL), promoted by Jignesh Shah-led FTIL, is facing the problem of settling Rs 5,500 crore dues of 148 members, representing thousands of investors, after it suspended trade on July 31 on the government's direction.

"With the help of NSEL and government agencies, we expect to recover around Rs 4,000 crore, which is 65-70 per cent of the total outstanding of Rs 5,500 crore from the top five borrowers of the exchange," NSEL Investor Forum Chairman Sharad Saraf told reporters.

We have found out that Rs 5,500 crore is in the system only with NSEL, its promoters company Financial Technologies and with its 24 borrowers, Saraf said according to the reports.

Dion Global Solutions Ltd.

Story first published: Wednesday, September 18, 2013, 9:10 [IST]
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