Wednesday, December 11, 2013

NSEL scam: City cops attach 100 properties belonging to defaulters

The Mmbai police, which is probing the Rs 5,600 crore payout scam involving the National Spot Exchange Ltd, has attached 100 of the 166 properties of the defaulters it has identified so far besides seven flats of the exchange's former top officials who were arrested in the case.

"The 166 properties, that include residences, offices, industrial units and lands of the defaulters or borrowers were identified so far for the purpose attachment... As of now, we have attached 100 properties of the borrowers," Additional Police Commissioner (Economic Offences Wing) Rajvardhan Sinha said on Wednesday.

To a question, the IPS officer said that value estimation of the attached properties had not been done yet.

Apart from this, three plush flats and a Range Rover car of arrested accused Anjani Sinha, former CEO of NSEL, were also seized. Two flats each of the arrested accused Amit Mukherjee and Jay Bahukhundi (both midlevel executives of the bourse) were attached as well, police said.

EOW has so far arrested five persons in the case -- Anjani Sinha, Amit Mukherjee and Jay Bahukhundi of the NSEL, and borrowers Nilesh Patel, Managing Director of N K Proteins, and Arun Sharma, Chairman of Lotus Refineries and also a film financier.

The 100 properties attached by police include 12 immovable assets of N K Proteins, said another officer.

The investigators have found Rs 145.57 crore in various bank accounts that were frozen during the probe.

EOW has invoked the Maharashtra Protection of Interest of Depositors Act in the case, which empowers them to attach immovable assets of the accused.

Some of the largest borrowers of NSEL include Mohan India, N K Proteins, Laxmi Group, MSR Food Processing and Swastik Group.

Meanwhile, directors of defaulting companies Loyal and Mohan India were questioned by police on Wednesday. PTI
Mumbai Mirror | Nov 14, 2013, 02.18 AM IST

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