‘Scam Within a Scam’: Bombay High Court Quashes NSEL Property Auction Over ‘Gross Undervaluation’ and Fraud

The Bombay High Court has set aside the auction sale of properties belonging to Primezone Developers Private Limited, which were attached in connection with the National Spot Exchange Limited (NSEL) scam. A Division Bench comprising Justice A. S. Gadkari and Justice Kamal Khata observed that the auction process, conducted under the Maharashtra Protection of Interest

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