NSEL Scam: HC orders shifting of LOIL Group cases to Mumbai

The high court also slapped a fine on LOIL Group of Rs 1 lakh per petition filed by NSEL to be paid to the latter

The Punjab and Haryana High Court (HC) has directed shifting of all cases pertaining to the National Spot Exchange (NSEL) defaulter LOIL Group to Mumbai courts where cases of other defaulters are being heard.

A single-judge bench of Justice Anil Kshetarpal noted that the defaulter (LOIL Group) had been playing a game of jurisdiction of courts to avoid trial before the Maharashtra Protection of Interest of Depositors (MPID) court and other forums at Mumbai which was adding to the logistics complexities for the investigating agencies. 

This was being seen as an attempt by the defaulter to avoid trial before the MPID court,