NSEL Recovery Group (NRG) Roles &

Responsibilities
NSEL Recovery Group (NRG) is an initiative by NSEL intended to assist
expeditious recovery of money from NSEL defaulters.

NSEL Recovery Group (NRG) is here to help and assist the investigation agencies
and judicial forums for recovery of money expeditiously, particularly the High
Court Committee, setup by the Honorable Bombay High Court, in fast forwarding
their logical conclusion. They are also the constituents of NRGs method to
stimulate recovery process.
The idea behind NSEL Recovery Group was to emphasize its collective attention
and resources, on recovery through peaceful and legal means. NSEL Member
Brokers and their Trading Clients can join the NSEL Recovery Group and it does
not constraint their right to be associated with any other forum/s or to pursue legal
course.
NSEL Members and their Trading clients can join NSEL Recovery Group as a
Volunteer or Advisor. The role of Advisor and Volunteer would help NSEL
Recovery Group to speed up their recovery process.

Responsibilities of Advisor:
The Advisor will strengthen the recovery team in reaching out to competent
authorities; enabling officials in overseeing investigating agencies, and entrench
substantial support for expediting recovery.
He/she who is resourceful in encompassing and presenting NRGs objectives
in a variety of public, political and governing settings, and accomplish the

process with necessary judgment and rationality, will be a strong suit. Allround access to all the prominent avenues will be a predominant and
distinguishing feature of this role.
One who undertakes responsibilities and leverages sources to gather
information from defaulters; exercise influentially when required and enable
governing officials to administrate investigating agencies for fast-paced
recovery, will be a perfect fit.

Responsibilities of Volunteer:
The person acting exclusively as volunteer of NRG will make the process
comprehensive working as a frontrunner, gathering first-hand information that will
leave no leeway for the defaulters to play truant or evade legal process,
enforcement, summons and admonishments from the law enforcing authorities and
judiciary, as the information provided by them will serve as panacea to implicate
the defaulters in the process of recovery.
NRG Volunteer will play a crucial role in coordinating with bankers,
assisting in complying with HCC directions, meeting all key competitors of
defaulters, accompanying asset tracing agencies, assisting in title search,
supporting external agencies and meeting legal counsels and a lot more.

Assets and Properties of the defaulting members been attached or

seized:
According to Media Reports, EOW has reportedly seized assets of
Defaulters worth around Rs. 6,000 crore

22

Defaulters have admitted to liabilities of approximately Rs. 2,000 crore

through settlement agreements or otherwise before the Bombay High Court,
and Authorities & concerned Departments/ forums and/or the EOW.
Out of the original 24 Defaulters, 2 defaulters owing a total of Rs. 196 crore
have almost cleared their dues

 ED has attached multiple assets of Defaulters worth over Rs. 200 crore
under PMLA. This Act is expected be amended so that the proceeds of
liquidation are paid directly to the trading clients instead of going to the
Public Exchequer.

Coordinates for NRG:

Broker Members and Trading Clients of NSEL are invited to join the NSEL
Recovery Group as Member of the Advisory Board or
as Volunteer, please register by filling NRG Registration Form or
mailing your Broker Code and Client Code (with broker) and Amount Due,
to Recovery Group at nrg@nselrecoverygroup.com.
The latest recovery updates including Bombay High Court Committee
Orders are available on www.nselrecoverygroup.com