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Bombay HC summons Motilal Oswal's representatives in NSEL default case

The summon pertains to a commercial suit filed about 18 months ago in the court by Ketan Shah, claiming a loss of Rs 230 million due to mis-selling by MOPL

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Motilal Oswal

Dilip Kumar Jha  |  Mumbai 

The Bombay High Court (HC) has summoned senior representatives of Motilal Oswal (MOPL) to appear before it on Thursday, in the National Spot Exchange (NSEL) default case. The summon pertains to a commercial suit filed about 18 months ago in the court by Ketan Shah, claiming a loss of Rs 230 million due to mis-selling by MOPL.

Ketan Shah is an investor in the scam-hit NSEL and member of the NSEL Investors Action Group. According to the complaint, MOPL had promised the trade in NSEL contracts to be “risk-free arbitrage products with assured returns”. Shah also claims ...

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First Published: Thu, August 23 2018. 03:35 IST
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