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.
Investigation agencies had arrested Arun Kumar Sharma on 11
November 2013 however he was released on 11 February 2014. Maharashtra
Protection of Interest of Depositors (MPID) court had ordered to transfer
Rs.12.74 crore from 27 bank accounts of Lotus Refineries Pvt Ltd to the account
of competent authority.
It is also interesting to know that there were noticeably 8
Defaulting groups holding a whopping 85% of total amount. The magnitude of the
amount of deception by these defaulters is inconceivable. The amount total
default by them alone is around Rs.4819.87 crores.
After 3 years of NSEL crisis, defaulter Lotus Refineries who
have the default due amount are still roaming Scot-free, . These defaulters
diverted the trading clients’ money into parallel businesses, instead of
returning the outstanding dues. These defaulters are enjoying on the defaulted money. Strict action should be taken
against these defaulters to recover lost dues.
Yes, Today also he is roaming in expensive cars with two body guards. He has a swanky 10000 square feet office. Out of 242 Crores only property and assets worth 100 crores are identified. Where is he rest? Still With HIm…...
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