NSEL investors to urge FM for faster execution of OTS

The NSEL Investors Forum (NIF), an association representing the interests of a large number of investors of National Spot Exchange Limited (NSEL), will approach the Finance Ministry to seek faster execution of one-time settlement (OTS), approved by the National Company Law Tribunal (NCLT).

“The historic settlement between NSEL and 63 moons, and the investors, is a turning point for all investors. It offers a concrete and fair resolution after years of legal battles and uncertainty. We will urge the Finance Ministry to help us execute the settlement plan as early as possible,” NIF Chairman Sharad Saraf said.

The NIF remains committed to ensuring that the execution of the OTS settlement is smooth, transparent, and completed and seeks the support of the government at every stage.

Hence, it decided to approach the Finance Ministry so that the execution of the settlement and ultimate payment of money to the investors would be smoother and faster, he added. Recently, the Mumbai Bench of NCLT approved the OTS scheme between NSEL and NIF.