Thursday, 1 September 2016

Arun Sharma A Major Defaulter in NSEL

Lotus Refineries Pvt Ltd. its one of the manufacturers and marketer of a wide range of edible oil products, with annual turnover of Rs.2000 Cr. The LR-Active Oil, flagship brand of LR Active, holds varieties of product extensions under the LR Active brand. The units of Lotus Refineries are located at various locations in India such as Mumbai, Chandigarh & Ludhiana. The group is run by Arun Kumar Sharma & Prashant Kumar Anand, the Chairman & the MD of Lotus Refineries Pvt Ltd. In the recent NSEL  5,600 Cr. crisis, Lotus Refineries was one of the notable defaulter owing Rs.252.48Cr. Arun Sharma took the money from NSEL and diverted that money to fulfill his peculiar necessities. The owing monies were diverted in real estate projects, adorning offices and financing Bollywood films. Besides being a Businessman Arun Sharma also finance Bollywood films.  He is a well-known entity among celebrities and has a close relationship with many famous celebrities; he is also the financier of movie Satya-2 & Dehradun diary, produced under the banner Mammoth Media Entertainment Pvt Ltd. and LR Media.


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