Nimrodindia

Hi folks. I am an Indian businessman with love for history, literature,theology, philosophy and anthropology.

Deep interest in Islamic history, Mauryan and Maratha empires and Ayn Rand's Objectivism

Stop Vandalism: NSEL SCAM

Do not post anything that is not verifiable on wiki and don't remove anything that is WP:verifiable

Bogus Editing

Nimrodindia Stop trying to deviate attention from facts with your skewed editing. It's obvious you through this and other handles are on to an agenda. Vandalism is not reverting to a cleaner version of the page, which is what I have been doing since you don't indulge in constructive talk page discussions. Would strongly advise discuss on NSEL talk page instead of just trying to disrupt the workflow on wikipedia. Michaeltibbs (talk) 10:31, 23 June 2017 (UTC)

Unreasonable Editing

Please refrain from making unconstructive edits to Wikipedia, as you did at NSEL_Case. Your edits appear to constitute vandalism and have been reverted. If you would like to experiment, please use the sandbox. Repeated vandalism can result in the loss of editing privileges. This is in relation to the reversal of my edits made by Nimrodindia on 12th June 2017. The edits executed were without any specific reason and explanation leading to vandalism. I see he has removed nearly 19 references from the exiting article which were contributed over a course of time by multiple users including myself. I have spent nearly 1 year in researching about the case and almost a most in making these insightful edits with relevant citations. Infact, there are many sentences and paragraphs in the edited version which do not even have a single citation which violates verifiablity. According to my research the edited page now makes the case one-sided and biased towards a specific group of people. Below is the detailed explanation (section wise) of the edits made by myself and other respected editors on the page

Introduction: 1. NSEL was not a Ponzi scheme and was a spot exchange regulated by the Forward Markets Commission. 2. NSEL did not fail to pay its investors. On the contrary, NSEL has settled the claims of most of the trading clients.

Background: 1. NSEL trades were not illegal. NSEL was granted exemption under section 27 of Forward Contracts Regulations Act (FCRA) 2. Pair contract is the brainchild of intermediaries in order to lure the trading clients for enhancing their brokerage revenue. NSEL warned these members about selling contracts as pair contracts to their trading clients and cautioned them not to offer any assured returns. NSEL had issued circulars to its members, refraining from offering any such contracts by offering assured returns. 3. The brokers mis-sold NSEL products to their clients by assuring them fixed returns. The defaulters hypothecated stocks and produced fake warehouse receipts and siphoned the entire default money. 4. Anjani Sinha, the sacked CEO and the MD of the company, owned up the entire responsibility of the crisis in his first affidavit. However, Anjani Sinha after arrest retracted his earlier affidavit. Subsequently, after his release, Sinha admitted to the contents of his first affidavit in his statement to the Enforcement Directorate.

History: 1. NSEL was set up following the then Prime Minister’s vision for a national level spot market for both manufacturing and agricultural produce. 2. FMC was appointed the regulator in August 2011 and not 2012.

Jignesh Shah's arrest by EOW Mumbai/involvement in the scam 1. The section only talks about the first arrest of Jignesh Shah. Shah was released on bail on Aug 22, 2014 by the Bombay High Court stating that no money trail in NSEL case has been established to Jignesh Shah, NSEL or FTIL. The entire default amount has gone to defaulters.

Role of the Ministry of Consumer Affairs, FMC & the UPA Government 1. Ministry of Consumer Affairs issued a show cause notice on April 27, 2012 to NSEL based on the flawed recommendations of the FMC. NSEL replied to the notice promptly. For more than year, the DCA was silent and on July 12, 2013 it ordered NSEL to stop launching fresh contracts and to settle all existing contracts on due dates. The same FMC did a complete U-turn and on July 19, 2013 said that the exemption was silent on whether the exemption is applicable to all or specific provision of FCR Act. On July 31, 2013, NSEL was abruptly asked to shut down leading to the payment crisis. 2. While another spot commodity exchange, NCDEX Spot Exchange continued to function without a hitch

Looking at the history, Nimrodindia had been suggested once by trueshes on 8th February 2016. Request you to follow wiki guidelines while contributing to Wikipedia and discuss on the talk page before making any edits on topics which need better understanding. You can refer to http://www.indialegallive.com/news-of-the-day/lead/the-final-blow-came-7133 and http://www.indialegallive.com/news-of-the-day/lead/indias-icarus-7123 to understand this case better before further contributing on the page. Request the other admins to intervene & take necessary action to avoid future vandalism attempts. Michaeltibbs (talk) 13:12, 13 June 2017 (UTC)