2.  National Spot Exchange Limited (NSEL) crisis came to light on 31 st July 2013  Exchange was forced to suspend all of its trading contracts  After payment crisis Regulatory Body, Investigation Agencies & NSEL had declared 24 members as NSEL Defaulters

3.  Swastik Overseas Corporation is one of these defaulters  On 11 August 2015 total outstanding default amount of Swastik stands 90.80 crore  Income Tax Department raided its office on 22 nd August 2013  After which this little known commodities trading company became a talking point

4.  High Court Committee (HCC) is formed under the Bombay High Court  HCC formed to resolve NSEL matters & recover the defaulted amount from the defaulters  No one on behalf of Swastik Overseas Corporation was present during HCC meetings

5.  On 5 th August 2015 HCC held a meeting  In that meeting HCC issued a fresh notice to Swastik Overseas Corporation  Notice clarifies that in case they do not appear on the next date, appropriate steps will be taken

6.  Bidders were invited by the HCC for the sale of immovable assets (residential and commercial property) of Swastik Overseas Corporationsale of immovable assets (residential and commercial property) of Swastik Overseas Corporation  The total amount of these properties stands 3.39 crore  Last date of bidding was 8 th September 2015

8.  Process of auctioning the defaulters assets need to speed up, as trading clients are awaiting justice  Like auction of Swastik Overseas Corporation’s assets, seized assets of other NSEL defaulters should be auctioned soon  So that the trading clients can get back their money