Defaulters make merry

Despite the arrest of IIFL Commodities director Chintan Modi, Anand Rathi Commodities director Amit Rathi, Geofin Comtrade director CP Krishnan, there are still many defaulters like Jagmohan who are roaming scot free. Jagmohan used the money to build an empire and is still enjoying the luxuries of life

Jab ishwar hai saath to dar kahe ka (When God is with us, why be afraid). This is the ringtone of the mobile phone of Mohan India promoter Jagmohan, who is embroiled in the Rs. 6,000-crore National Spot Exchange Limited (NSEL) scam. It is now almost 21 months since the NSEL scam was exposed. Unfortunately, there has been no action by the government against defaulting borrowers, who had taken money from the Exchange and are not returning it.


About gfilesmagazine

gfiles is the country's first independent magazine written, designed and produced for India's civil services—the vast and formidable network of bureaucracies and public sector organisations that provides continuity and stability to this nation's governance.
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