Mumbai: National Spot Exchange alleged that Ram Naresh Saraf and his son Pankaj– one of the complainants — are hand in glove with Primezone Developers, a firm floated by former CFO of PD Agro, a defaulter, reports PTI.
Pankaj Saraf’s complaint to the Economic Offences Wing of the Mumbai Police had led to the FIR in the Rs 5,600-crore NSEL scam. PD Agro is the fifth-largest defaulter in the NSEL scam owing Rs 687 crore. The Haryana-based company, through its arm Primezone Developers, entered into a deal with Ram to buy his receivables at discount for Rs 54.04 lakh on April 2, 2014, NSEL alleged. “This deal is a clear indication of the complainants hand in glove with the defaulters. The said deal is in contravention of the Bombay High Court order which had said a settlement could be reached only with prior approval of FMC,” NSEL Joint MD Prakash Chaturvedi said.
