NSEL investors unlikely to receive more than 60% of their money
September 27, 2013
Indications are that the government may soon drop the kid gloves treatment to NSEL and its management and allow the CBI to take over. If that happens, most investors will not get anything back from their investment
Even as the government begins to distance itself from the woes of National Spot Exchange Ltd (NSEL) investors, we learn that actual recovery, in the form of physical assets, is unlikely to be more than 60%. Moreover, this information is already known to the investigation agencies and the government. It may be recalled that Jignesh Shah and his team borrowed a lot of time by saying that it was imperative for all involved to be on the same side so that recovery of assets would give investors their money back. Our information from insiders of the Financial Technologies–MCX (FT-MCX) group indicate that this 60% is probably the most optimistic estimate.