The Bombay High Court has ordered Aastha Minmet India and Juggernaut Projects, part of Aastha Group, to deposit ₹12.5 crore and ₹145 crore with the Court in four weeks. The court was hearing the case pertaining to default of ₹5,600 crore on the National Spot Exchange platform on Wednesday.
In their order Justices VM Kanade and Revati Mohite-Dere said the Appellants had filed affidavits before the MPID (Maharashtra Protection of Interest of Depositors) Court admitting their liability and secured bail and now they cannot contend that the admission was not proper.
The case could be heard after the appellants (Aastha Minmet and Juggernaut Projects) deposit the amount in the Court within four weeks and if any amount is already paid that can be deducted and the balance be deposited, said the order. The next hearing is on March 2.
With the recent order, the exchange has managed to secure assets for recoveries worth ₹4,516 crore, of which ₹1,233 crore was by way of decree, said NSEL in a statement. Recently, MPID Court ordered sale of one of the defaulters Mohan India Group’s property worth about ₹350 crore.