Narendra Modi assures help to NSEL investors

Notably, Central Bureau of Investigation and Serious Frauds Investigation Office will be investigating matter

Gujarat Chief Minister and Bhartiya Janata Party’s  Prime Ministerial candidate Narendra Modi assured “all possible help” to the troubled investors of the National Spot Exchange Ltd (NSEL). In a meeting with the representatives of NSEL Investors Forum on Tuesday, Modi “responded positively” to their request to help recover dues from the defaulters.

“There are two big defaulters based in Ahmedabad. The total recovery pending against them is close to Rs 1,100 crore. We briefed the chief minister about the entire issue from the beginning and requested him to help us recover the dues from the defaulters. He has responded positively to our requests and assured to help us,” said Sharad Saraf, convenor, NSEL Investors Forum.

Saraf, along with a few other investors, met Modi at the state secretariat in Gandhinagar on Tuesday. According to Saraf, Swastik Overseas and NK Proteins are the two largest defaulters based in Ahmedabad.

The two entities account for nearly a fifth of the Rs 5,600-crore the exchange owed to some 13,000 investors.