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Court constituted committee to recover amount from defaulters: NSEL

New Delhi, May 4 (PTI) The Supreme Court has approved setting up of a committee headed by Justice (Retd) Pradeep Nandrajog to look into recovery of amount from defaulters. National Spot Exchange Ltd. (NSEL) has to take this amount and orders have been given in its favor for the same.

NSEL said in a release that the court has approved the constitution of the committee.

According to the release, NSEL has secured orders/arbitration decisions against defaulters in a case involving Rs 3,534.46 crore.

NSEL said, “In addition, the High Powered Committee appointed by the Bombay High Court has already settled the liabilities of the defaulters worth Rs 760.31 crore. NSEL is confident of converting it into order very soon.

According to the release, the two defaulters have already paid the liability of Rs 195.75 crore.

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