FAQs

1. Why one more group or association?

Each of the existing groups or associations has been doing their bit in terms of their representations and efforts. Their work cannot be undermined and we respect them. The NSEL scam has shaken every market participant. With thousands of investors and hundreds of brokers having been affected, it was natural for difference of opinion having persisted on the correct / appropriate course of action. That is how the various groups came into existence. So, while some one targeted NSEL and borrowers, others targeted FTIL and brokers. We had seen several arrests and eventually all of them getting bail too. Whether we have all got the desired results or not from a particular course of action that all chose, is not for us to comment upon or judge. With passage of more than 4 years and several actions having been taken or that happened at EOW, MPID, Enforcement Directorate (ED) and in the High Court(s) including the HCC, there is some degree of clarity on the course of events that may hereon happen or that we can anticipate through these agencies and at the Courts. The time was felt right to have a focused group working on tightening and sewing up all the loose ends, on the LEGAL side. A comprehensive legal strategy concentrating on RECOVERY of monies is required. This association will have an undiluted objective towards RECOVERY including now pursuing the Final merger order of NSEL-FTIL to its logical end.

2. I am already a member or signed up with an existing NSEL investors association. What sense and difference does it make to join your association?

You can join our association as there is no restriction / bar on your multiple affiliations in your capacity as an investor. We are expecting to gather the support of at least few thousand investors to make it a formidable association when it comes to (a) truly representing the largest base and varied class of investors (b) demonstrating the largest number of investors backing the court cases (c) lend credibility to the whole cause of recovery. Hence, your enrolment with us helps the collective cause of RECOVERY.

3.Do I need to pay any fees for enrolment or contribute to any of the cause or case that you will be pursuing?

NO. The enrolment / membership is free. We are not seeking any contribution now and neither will we approach you for any contribution in the future. The formation of this association happened pursuant to few like-minded individuals deciding to take this fight against all the perpetrators of the fraud to its logical conclusion. We approached several luminaries in the field of business, corporate law and lawyers etc., who either because of their being affected (directly or indirectly due to NSEL scam) or some having been moved by the ‘plight’ of investors, agreed to voluntarily contribute viz. money and / or their time. Through their means we will be having funds enough to meet the legal and other expenses.

4.How do I enrol or become a member of this association?

You can fill up the form Join The Fight (online only).
You shall be receiving a confirmation message on your mobile and email on our acceptance of your registration with us.
You are therefore requested to ensure that you provide such mobile and email that you use / access regularly.

5.Why are you seeking PAN number?

You might have observed that we have kept the registration online. We have kept the process simple & convenient. Now, to establish the credential of every entity registering with us, PAN is the unique identifier.
We do not wish to be seen as quoting / presenting a wrong count of investors to any agency or authority or in the courts (during the course of any of our petition). You will appreciate that under our current process, PAN offers sanctity.

6. Will my name & data remain confidential?

We will never be using this database in any of the public forums. We have kept no provision on our website for any member to exchange views or interact between each other. The idea has been to avoid discomfort to any investor about his / her identity getting known. We shall submit your information ONLY to such authority or agency of the government or the courts where it is insisted upon this association to disclose the bona-fide or existence of such investors.

7.Will I be getting any updates regularly?

We shall be constrained in providing any updates on a frequent basis. Given that we are working more with a comprehensive legal strategy and not some routine letter representation to authorities, the updates will only be at certain periodicity. That periodicity we are not committing right now.
However, any significant development in the matters related to NSEL, we shall strive to host it on this website for your ready reference. And such developments may not be restricted to what this association is doing / has done, but will be such news & updates that would be of interest to every NSEL investor.

8. What should be the realistic expectations from this association?

(a) We shall be seen in existence till we get to a stage of certainty on recovery of monies to investors. (b) We do not assure recovery as we are only a body to represent and fight for the collective cause of investors. However, we will keep the fight on, to ensure that we use the means of Law to force all the perpetrators and beneficiaries to pay up. (c) Any recourse to Law through the courts will take its time and we expect to update you (primarily through this website) with all the concrete developments with regard to such efforts. (d) Any recourse to the Executive / Government, we expect to update you as and when we represent the necessary to them.

 

 

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