Yathuri Associates

NSEL Defaulter Gagan Suri’s Business Gagan Suri’s Contempt of Court Yathuri Associates Property Siezed Gagan Suri’s Bail Rejected Gagan Suri’s Fake Company Assets of Yathuri Associates Conclusion

AGENDA

Fifth largest NSEL defaulter - Yathuri Associates.

Chandigarh based company owned by Gagan Suri.

Gagan Suri, CEO of Yathuri Associates.

NSEL DEFAULTER

Yathuri Associates owns Chemical Wholesale business.

More than twelve employees working with Yathuri Associates.

Gagan Suri’s Business

Notwithstanding court orders on 25 September, 2014 Yathuri Associates had failed to file affidavits disclosing their assets.

Gagan Suri failed to appear before the court and the decree was passed ex-parte. 

GAGAN SURI’S CONTEMPT OF COURT

Yathuri Associate’s properties were secured for attachment by the EOW of Mumbai Police, Crime Branch and CID.

Bombay High Court passed decree on admission for the total amount of Rs. 356.15 crore on 18 December, 2014. 

YATHURI ASSOCIATES PROPERTY SIEZED

A special court of the Prevention of Money Laundering Act (PMLA), rejected the bail application of Gagan Suri,

Gagan Suri arrested by Enforcement Directorate (ED) for his alleged involvement in multi-crore NSEL crisis.

The court remanded Suri in judicial custody till March 24, 2014.

GAGAN SURI’S BAIL REJECTED

Court was informed that Gagan Suri, along with his brother-in-law Onkar Anand formed several fake companies

Funds received from NSEL were routed through these companies.

GAGAN SURI’S FAKE COMPANY

Flat ad measuring 1600 square feet in Panchkula Haryana.

Plots ad measuring 200 square yard in Mohali,

Punjab.

Assets of Yathuri Associates

Yathuri Associates have received Rs 361 Cr from NSEL funds and diverted money to maze companys.

Yathuri Associates has a payment obligation of Rs. 403. 60 crore. 

Gagan Suri, owner of Yathuri Associates is the 5th largest defaulter of NSEL.

Conclusion

Thank You

Source: Media Reports & NSEL

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