Third executive to be held

The Economic Offences Wing (EOW) of the Mumbai Police has arrested former CEO and Managing Director of National Spot Exchange Ltd. (NSEL) Anjani Sinha on Thursday after he was interrogated by them for several hours.

Mr. Sinha is the third executive of the company to be arrested after Amit Mukherjee and Jai Bahukhandi. It is expected that the EOW would approach the court to extend the custody of Mr. Mukherjee and Mr. Bahukhandi.

“He is the main actor in the whole episode, and EOW will get enormous information from him,” said Sharad Kumar Saraf of NSEL Investors Forum. “They should be able to trace the money drain with the help of Mr. Sinha. His two colleagues are already there. So, the entire truth will come out,” Mr. Saraf added.

May freeze property

The EOW has also invoked the Maharashtra Protection of Interests of Depositors (Financial Establishments) Act, which would help the investigating agency to freeze the property of the accused, liquidate it and give money to the investors. According to sources, Chandrakant Kamdar, Director of FTIL, was also questioned by the EOW on Thursday.