NSEL fiasco is now well known. The losses suffered from this SCAM includes large investors to small investors. A few sample is given below:
Geojit BNP Paribas makes provision for the dues from NSEL See the link http://www.financialexpress.com/news/Geojit-BNP-Paribas-hit-hard-by-crisis--net-loss-at-Rs-94-cr/1195052
Motilal Oswal Group exposure is Rs 254 crores
http://profit.ndtv.com/news/corporates/article-nsel-owes-rs-254-crore-to-motilal-oswal-group-327287
Several small investors also lost..........see below
" I invested my husband PF after retirement with India Infoline in commodities, which is now stuck.So many such reports in media are out to question us, the investors,for not asking so many questions before investing and trying to suggest as this is our fault.What are you all suggesting that now onward anyone travelling should ask for air worthiness certificate from airline before making a booking, check all parameters of railway before boarding or for that matter any thing in life? There are bodies who are suppose to look after all that. Just because no one did their job a small investor should suffer. Where were all these agencies when these people started their business activities?How can Govt ministry/FMC/NSEL/IIFL and all other concened can sleep? The least one expect is, please solve the problem.
" I am also facing the same fate. ..... convinced me to break my FD and invest in NSEL. Now money is at stake......"
The above comments are taken from the following (well written) article
http://www.business-standard.com/article/markets/nsel-anatomy-of-a-trade-gone-sour-113082600402_1.html
Conclusion
In 1992 it was Harshad Metha and since then, there were almost hundreds of investment scams - big & small - in India. Varying amount of sums were lost. I have gathered a few websites that provide details of such scams
Kindly visit them and learn from others' mistakes.
Wish you Happy & Safe Investing !
