Court Proceedings of NSEL Defaulter VIMLADEVI AGROTECH LTD
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The High Court Committee meeting discussed three NSEL defaulters, including Vimladevi Agrotech Ltd, which owes Rs 13.94 crores to NSEL. Vimladevi Agrotech filed an affidavit stating documents requested by the Committee were with the Economic Offences Wing, but the Committee found Vimladevi did not comply with their previous directions and made no statements about providing documents. Therefore, the Committee agreed with NSEL's suggestion that Vimladevi is not cooperating and the matter should be taken up directly by the High Court, as Vimladevi showed no intention of complying with the Court's directions.
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Court Proceedings of NSEL Defaulter VIMLADEVI AGROTECH LTD
- 2.  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
- 3.  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
- 4.  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
- 5.  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)
- 6.  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
- 7.  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
- 8.  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
- 9. Images are for representation purposes only