The Enforcement Directorate has attached 21 immovable properties, worth ₹13.19 crore, of Shree Radhey Trading Company in connection with the ₹5,600-crore NSEL scam. The agency has so far attached assets worth ₹2,713 crore in the case.
According to the ED, the properties are controlled by company proprietor, Ramesh Nagpal. The Directorate had initiated money laundering investigations into the scam in October 2013. “It was alleged that the accused hatched a criminal conspiracy to defraud the investors, induced them to trade on the platform of NSEL, created forged documents like bogus warehouse receipts and falsified the accounts,” said an official.
About 13,000 investors were cheated. Of the total proceeds of ₹5,600 crore, the liability of Shree Radhey Trading Company stood at ₹34.59 crore.
