The crisis at NSEL has put Jignesh Shah and FTIL in trouble, but the truth is that the defaulters are the real culprits of this Rs 5600 Cr payment default. I believe that this is the reality because for almost 3 years thought that NSEL is supposed to repay the amount, but if NSEL was nothing but a platform that enabled trading, then as an investor, my money has gone to the defaulter who had promised to deliver on the goods that I bought through my broker on the NSEL platform.
Now, as I see my aunt suffering as she had put in all her life time saving in NSEL after my broker fooled her, I realised my anger towards NSEL is misdirected. Like me everyone has believed for three years that NSEL is the real culprit. But, after I read ‘The Target Book’ written by veteran writer Shantanu Guha Ray, I realised that the only way I can hope for the return of my aunt’s money is to channel my questions to the right directions.
The defaulters have cheated my aunt on the NSEL platform. They are roaming around doing business, buying benami properties with my aunt’s money and here I am wondering who is going to arrest them? Who is going to pressurise them to return the money?