HCC Proceedings of NSEL Defaulters
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The document summarizes proceedings from a HCC meeting regarding defaulters in the NSEL case. Several parties such as Aastha Minmet, Yathuri Associates, Namdhari Foods, White Water, and P.D. Agro Processors were directed to submit documents, respond to affidavits, and appear at future meetings to determine their liabilities and comply with court orders. Many of the parties did not attend or provide the requested documents, and the committee discussed recommending actions against them to the Bombay High Court. The matters for all the listed defaulters were then adjourned until October 10, 2015.
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HCC Proceedings of NSEL Defaulters
- 2. NSEL Defaulters called at HCC meeting ? Aastha Minmet / Juggernaut ? Yathuri Associates ? Namdhari Foods ? White Water ? P.D. Agro Processors
- 3. Aastha Minmet / Juggernaut ? No one showed up when matter was initially called out at HCC meeting ? Later VAT Returns & VAT payment challan were presented ? However presented VAT documents were not taken on record ? Aastha directed to file VAT Returns & VAT payment challan with their affidavit & appear at next meeting ? NSEL brought to notice of HCC that Mohit Agarwal , M.D. of Aastha Group was not cooperating with proceedings of Committee & is absent when his debtors are present ? Mohit Agarwal is directed to be present on next date & comply with earlier directions & file required documents ? Matter stands adjourned on the 5th of October 2015
- 4. Yathuri Associates ? No one was present on behalf Yathuri Associates ? HCC detected that Mr Gagan Suri Proprietor of Yathuri Associates was not co-operating with ongoing proceedings ? NSEL was directed to file their Affidavit for determination of liability, same was filed ? HCC directed NSEL to serve a copy of affidavit to Yathuri ? Suitable recommendations for Yathuri to appear before HCC will have to be given to Bombay High Court ? Application No 47 for sale of Sugar arguments at meeting ? NSEL pointed out that sugar was not in a good condition ? Mr Suri was ready & willing to buy the same for Rs 1 lakh ? HCC was of the view that bids should be called for sale of Sugar on “as is where is basis & recommendations can be made to Bombay High Court
- 5. Namdhari Foods ? Namdhari Foods submitted that paddy has been sold as per HC order ? Money from sale of paddy is lying with Competent Authority ? Namdhari not aware whether goods were lifted or not ? Namdhari Foods was given an affidavit filed by NSEL, reply to which to be filed by 10th October 2015 ? Reply to be filed with additional directions to comply with earlier directions ? Failing compliance to directions, applicable recommendations will be made by Committee to Bombay High Court ? Matter now stands adjourned on the 10th of October 2015
- 6. White Water ? White Water informed HCC that no notices concerning meetings of committee post 28thApril 2015 were received ? Adjournment was asked by White Water ? Last chance with directions that the clients are present with relevant documents on 10th October, 2015 ? NSEL has filed Affidavit for crystallization of liability & copy of same handed over White water ? NSEL strongly objected & stated that White Water should remain present & should be directed to comply with earlier order of HCC
- 7. P.D. Agro Processors ? P.D. Agro requested stay of proceedings due to appeal pending in High Court ? They submitted that pending appeal is likely to be listed on 13th October 2015 in High Court ? NSEL submitted that PD Agro had not taken any steps for getting appeals listed ? 8 adjournments have been given till date to P. D Agro ? NSEL further argued that in absence of stay from High Court, HCC should recommend High Court to issue directions to appear before HCC ? NSEL has filed affidavit for crystallization of liability & copy of same is to be served for record to PD Agro ? Matter stands adjourned on the 10th of October 2015
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