It will be making a down payment of Rs 11 crore initially and pay the remaining amount throughout the year after securitizing land and property. It is likely to securitize 500 acres of land near Bikaner in Rajasthan and 14000 sq yards bungalow in Civil Lines, New Delhi.
The probe into the beleaguered National Spot Exchange has gathered momentum as the economic offences wing is investigating multiple angles into the scam.
The panel led by the economic affairs secretary Arvind Mayaram will subit its report on the NSEL crisis on Wednesday. The panel is likely to coordinate among investigative agencies and will also come up with an action plan on NSEL.
National Spot Exchange (NSEL) promoter met the economic affairs secretary Arvind Mayaram. After the meeting, he also admitted to have made mistakes, but promised to repay all the investors.
Five defaulters out of the 19 defaulters in the NSEL crisis have promised to pay Rs 1,330 crore via collaterals. Meanwhile, civil and criminal proceedings have also been initiated against them.
CNBC-TV18's Ashmit Kumar reports that complaint seeking criminal proceedings in the NSEL crisis has been filed.