Wednesday, 2 October 2013


The Economic Offences Wing of Mumbai Police, which is probing the alleged Rs 5,600-crore NSEL scam, has summoned bourse's promoters, including Jignesh Shah, defaulting brokers and senior officials, even as raids continued at exchange's different premises today.

"We have summoned Shah, (Joseph) Massey, other promoters, directors and defaulting brokers, directing them to appear before us for questioning.

"The summons were served to about 60 people soon after the FIR was registered. The accused will have to appear before us within five days from the day they received the summons," an EOW officer told PTI here today.

The FIR was registered on Monday. National Spot Exchange (NSEL) officials were not available for comment.

Meanwhile, the raids at the residences and offices of the NSEL top brass, brokers and defaulters continued across the country on the third day today, the officer said.

The police teams, which began raiding as many as 193 locations on Monday, had so far covered 143 locations (44 office premises, 45 houses and 54 warehouses) and collected crucial evidence, the officer added.

About 65 voluminous files, 61 hard disks, six laptops, 25 pen drives, two CPUs and an iPad were among the evidence collected so far, the officer said.

NSEL, promoted by Shah-led Financial Technologies BSE -1.25 %, has been facing problems in settling Rs 5,600 crore dues of 148 members/brokers representing 13,000 investor-clients, after it suspended trade on July 31 on government's direction.

An FIR was registered on Monday by the EOW against its promoters, directors and defaulters on the charges of cheating, forgery and breach of trust among others.

Yesterday, the EOW froze 58 bank accounts, including the accounts of the crippled Exchange and the accused, while the CBI started a probe into alleged duping of customers and irregularities by the exchange.

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