Extensive investigations were carried out to ascertain whether any money or proceeds from NSEL were diverted to FTIL or any of its promoters. After extensive investigations by the Government and the investigating authorities and a series of interrogations, over the last one year, by specialized agencies such as EOW, ED and CBI it was found that there is no evidence of NSEL or FTIL or its promoters receiving any benefit from the money being exchanged on the NSEL platform. This has also been confirmed by the Bombay High Court order of August 22, 2014.
The question that arises is that when it is established and proven that neither NSEL nor FTIL nor its
promoters are beneficiaries of anything that happened in the NSEL crisis, then why they should be
subjected to unwarranted pain and punishment.
The trail clearly shows money flowing into the account of the 22 defaulters and does not involve the promoters or the management of FTIL. This makes the punitive actions taken against FTIL and its promoters unfair and unjust.
The question that arises is that when it is established and proven that neither NSEL nor FTIL nor its
promoters are beneficiaries of anything that happened in the NSEL crisis, then why they should be
subjected to unwarranted pain and punishment.
The trail clearly shows money flowing into the account of the 22 defaulters and does not involve the promoters or the management of FTIL. This makes the punitive actions taken against FTIL and its promoters unfair and unjust.
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