Bombay HC allows commercial suit of Rs 938 cr against NSEL defaulter NK Proteins

Friday, 30 Jul, 8.19 pm

The National Spot Exchange Ltd (NSEL) has got a shot in the arm with the Bombay High Court converting its suit for recovery of Rs 937.89 crore against NK Proteins and others into a commercial suit which would ensure stringent procedural formalities for speedy disposal of the case against the defaulter.

In its order, the court came down very heavily on NSEL largest defaulter NK Proteins Group for opposing the conversion of a regular suit into a commercial suit.