O UTCOME OF H IGH C OURT C OMMITTEE M EETINGS

A GENDA Purpose of HCC meetings HCC meeting on 21st Aug 2015 Court Hearing of Yathuri Associates Court Hearing of Aastha Group Conclusion

P URPOSE OF H IGH C OURT C OMMITTEE (HCC) MEETINGS Matters of National Spot Exchange Limited (NSEL) defaulters are ongoing at HCC meetings in regards to NSEL crisis Plenty of legal proceedings & notices are conducted & issued almost every month Main purpose is to resolve & recover defaulted amount from NSEL defaulters

HCC MEETING ON 21 ST A UG 2015 Held on 21st of Aug 2015 NSEL matters conducted before Justice Dalvi Yathuri Associates was listed for hearing NSEL defaulter Gagan Suri, Proprietor of Yathuri Associates present Aastha Juggernaut was also listed for hearing on that day Mohit Aggarwal, Managing Director of Aastha Group present Lawyers of both parties were present at the meeting

C OURT H EARING OF Y ATHURI A SSOCIATES Outstanding default amount of Rs cr in NSEL crisis They submitted required bank statements in court They also submitted IT Returns Gagan Suri, Proprietor of Yathuri Associates was granted bail He is required to remain present as & when required as per Hon'ble Court’s order

C OURT H EARING OF A ASTHA G ROUP Outstanding default amount of Rs crores in NSEL crisis Aastha Group submitted incomplete bank statements at HCC meeting No possession of required docs of Juggernaut Only one bank account details available No disclosure of immovable & movable assets Current Director of company was asked to whom warrant should be issued to Reply given that there were no Directors as all had resigned They also stated that Mohit Aggarwal, Promoter of Aastha Group was the only one left The court then asked to file affidavit for the same

C ONCLUSION Recovery process from NSEL defaulters going on for almost a year Process is taking a significantly long amount of time Trading clients who have lost their money on the platform, are still waiting for justice There has been no substantial result as yet Speedy recovery process is awaited to bring about relief to NSEL trading clients