 According to the report in The Economic Times, the letter terms the claims by traders, brokers, and their nonbanking finance companies "illegal", "multiple" and for "bogus losses".It said the Rs 2,000-3,000 crore worth claims were causing losses to the exchequer.On December 12, 2016, in a written reply to a question in Lok Sabha, the then Minister of State for Finance, Shri Arjun Ram Meghwal also made it clear that the veracity of these investors is being looked into.