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    The agreement between Ranjeev Agarwal & R N Saraf (father of Pankaj Saraf)

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    The agreement between Ranjeev Agarwal & R N Saraf (father of Pankaj Saraf)

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    76 views10 pages

    Prime Zone

    Uploaded by

    bharat
    The agreement between Ranjeev Agarwal & R N Saraf (father of Pankaj Saraf)

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    >rowviil, ub Abe oana © 24 It is further submitted that the company, at its own level and in all bonafides, is making every attempt to seitle the liabilities of various investors. In its bid to clear the outstandings, the objectors company has settled the payment of one Mr RN Shroff, towards whom NSEL owes an amount of Rs. 60,04,821/- The said investor had made investments with NSEL through one Capital First Commodities Limited ‘An agreement has been entered into between the objector company and the said investor whereby, the objector company has now become the creditor of NSEL. A copy of the agre ent dated 02-04-2014, proof of Payment for Rs,. 54,04,339/- (in full settlement), copy of ledger account of Mr RN Shroff maintained with Capital First ‘Commodities Limited are collectively Exh” marked as Exhibit | It is respectfully submitted that if the attachment orders of this Hon'ble Court as well as those of EOW and ED are lifted on the lands of applicant, the applicant would be in a position to settle everything in 4 span of next 12 months or so The applicant is contesting the attachment of ED as well before the adjudicating authority and even before the said authority, th stand of applicant is absolutely clear inasmuch it hes again reflected its willingness to refund the entire amount provided that attachment °rimezons THIS AGREEMENT is executed at Mumbai-on this 2 day of NCsN a014 tetween Ms, Primesone:Developere Private Liniited having their Registered Office at 109-110, Main Market, Sector -8, Urban Bstate, Karnal, Haryana 192001 hereinafter referred to as ‘the Indebtedness Oblige’ (which term or expression unless excluded by or repugnant to the subject or context, sts rmeen and include ite successors or successorsin-interest and assigns) of the One Part and, Mr. Ram Naresh Saraf, having his office at Oricon House, 40iloor , 12 Rampart Row, Fort, Mumbai-400023, Maharashtra hereinafter referred to as ‘the Obligee' {which term of expression unless excluded by or repugnant fo the 2- -mubject or content, shall mean and include his successors or successors~ Interest and assign) of the Other Part (WHEREAS - 1. The Obligee is one of the investors who has en nto contrat with ‘he commodities broker ie, M/s. Capital First Commedities Pvt Ltd (jerein referred as ‘the Broker?) bn 91/01/2013, for dealing in various coramodities of National Spot Exchange Ltd (herein after referred as NSB) and invested in commodities through this broker. ‘The news of scam worth Rs.5600 Crore broke out in ll the news papers in india on 31/07/2019 nnd the NSEL become the defauter in selling the ues of various investors including the Obligee in commodities trading to the tune of Rs.63,74,40401 (Rupees Sixty ‘hrc lakhs seventy four thousand four hundred four and paise ninety cone only. The said sum was due from the broker atthe time of seam broke out Le. on 31/07/2013, However, the Oblige has recived part payments in installments and reesived @ sum of Re.9,69,508=10, (Rupees Three akhs sixty nine thousand five hundred eighty four and paite ten only) til date ae against the said outstanding, As on date of ‘his execution the mam of Rs.60.04,820.81 (Rupees Sixty lake four thousand eight hundred fwenty and pad eighty one only is all due te the blige to be received from the Broker. 9. Other investors have alto led Fist Information Report No.25/13 against 'NSEL, Borrower, Co-Borrower, Jeer/s, Sub-Broker/s, snd/or any other person/s involved in the commodity seam ai also Contd. on page Nos Q LZ ol ‘led criminal case against the said NSEL in Hon'ble Bombay High Court for recovery ofthe said dues tether with other actions against the defaultere as por lw ‘The Indebtedness Obliger is wiling to buy the Linbillies of 1e.60,04,820-81 of the Obligee as fer detils annexed herewith a ‘annexure "AP and have approached them witha proposal that the Indebtedness Obliger will purchase/buy all the Uabiies of oblgee of {R6004820-81 at a clacount of 10% Yor Re.54,08,999/-tayether with he right to recover the said amount by due process of law which can bene ye inden papa hey nied by the other investors and/or any ther proceedings which the oblige ‘may iniate against the defltrs, “The Obliges trainer his rghts of contract mentioned in annexure ‘AY and Annexed hereto from NSBL to Indebtedness Obliger related to all the commodities purchases inthe eaid contrac. ‘once the payment is done by the Indebtedness Obliger to the Obigee te Obiigee shall not be entitled to ease any claim of any nature respect of duos ofthe blige. 1 ie expresoly agreed between the partes this one time setUement is conchuded by parties on good faith and understanding ‘ad all the ines between the partie stands resolved and concluded ‘upon signing ofthis agreement, _ Conte on page No.# a Low

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