The senior management of NSEL has been meeting with the MAC appointed by the FMC on a
weekly/fortnightly basis. These are very structured meetings with minutes and action taken reports. In all, 25 committee meetings took place, between October 9, 2013, and August 8, 2014, wherein 246 agenda items were dealt with. In some of these meetings, the FMC representative also participated. All meetings were hosted at NSEL’s office and were provided with detailed agenda notes and electronic display of further details.
Additionally, NSEL compiled and sent a detailed weekly report to the FMC, which summarized all
recovery, settlement pay-outs, legal and court cases, e-Series updates and any important developments of the week.
Thus, despite being fully aware of the various continuous efforts made by NSEL for recovery of the dues from the 22 defaulters, the FMC’s allegation of ‘no progress in recovery’ is surprising.
weekly/fortnightly basis. These are very structured meetings with minutes and action taken reports. In all, 25 committee meetings took place, between October 9, 2013, and August 8, 2014, wherein 246 agenda items were dealt with. In some of these meetings, the FMC representative also participated. All meetings were hosted at NSEL’s office and were provided with detailed agenda notes and electronic display of further details.
Additionally, NSEL compiled and sent a detailed weekly report to the FMC, which summarized all
recovery, settlement pay-outs, legal and court cases, e-Series updates and any important developments of the week.
Thus, despite being fully aware of the various continuous efforts made by NSEL for recovery of the dues from the 22 defaulters, the FMC’s allegation of ‘no progress in recovery’ is surprising.
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