Loser pays all

The investors of National Spot Exchange have formed an association to help them recover dues. The association at present is based in Mumbai and has a few hundred members although the total number of people affected is said to be over 13,000. Named NSEL Investors Forum (NIF), it has provided a platform of sorts for an organised response. But it does not come for free. People who want to join have to pay up. "I request you to enroll yourself as a member of NIF by remitting an Entrance Fee of Rs 5,000 separately for each investor entity in favour of NSEL Investors Forum with a simple covering letter, mentioning your investment amount involved and broker," the forum said in a letter.