Mumbai Police, probing the Rs 5,600 crore NSEL scam, have completed attachment of assets of all 26 defaulters in the case even as frozen assets of defaulters, directors and others have been estimated to be worth over Rs 3,000 crore.
“We have attached a total of 212 properties worth Rs 2679.4 crore of defaulters, directors and senior officials of the NSEL. We have completed the attachment of all the defaulters. So far 325 bank accounts have been frozen, which have a total bank balance of Rs 172.15 crore. We have also attached money in shares and investments worth Rs 252.6 crore of the accused named in the FIR,” a senior EOW official said on Sunday.
Presently busy examining the books of accounts of borrowers-turned-defaulters, the EOW’s next focus would be studying brokers’ books of accounts, the official said.
An FIR in the case was lodged on September 30 by EOW against directors Jignesh Shah, Joseph Massey and others charging them with cheating, forgery, breach of trust and criminal conspiracy, among other offences.
The spot commodity bourse, promoted by Shah-led Financial Technologies (FTIL), has been facing problems in settling Rs 5,600 crore dues of 148 member brokers, representing 13,000 investor clients.
Police suspect equal role of brokers in the scam as many of them have sold NSEL commodities despite having knowledge of the fraudulent practices in the spot exchange. The EOW has invoked Maharashtra Protection of Interest of Depositors Act, which empowers police to attach immovable assets of the accused.
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.
All of them are in judicial custody and presently lodged in Arthur Road Jail.