October 24, 2013 3:08:52 am
Investigations into the Rs 5,600 crore payment crisis at the National Spot Exchange Limited (NSEL) have revealed that the fraudulent entries found to be made in NSELs balance sheets were done so at the behest of arrested accused Amit Mukherjee,Jai Bahukhandi and Anjani Sinha,sources in the Economic Offences Wing (EOW) of the Mumbai Police said on Wednesday.
The EOW had seized the balance sheets and other documents during the search operations conducted throughout the country.
The EOW,while going through the balance sheets,had found that a series of entries were made on August 8 and August 9 to show that the money invested by investors was being backed up with commodities of equal amount in its warehouses. The entries were made within the period of these two days as NSELs activities came under intense scrutiny of regulators and other government agencies.
The EOW subsequently summoned NSELs chief financial officer Shashidhar Kotian who was questioned several times by EOW officers as well as the team of auditors helping the EOW in its probe.
Kotian has said that the entries were made by the technical support team that was handling data entry in the balance sheets. We questioned the members of the team and have ultimately found out that the entries were made at the behest of Mukherjee,Bahukhandi and Sinha. We are investigating this aspect further, said a senior EOW official.
He said the entries were made in a haphazard manner which would easily attract suspicion. In several instances,only entries of goods being stores in warehouses have been made whereas there is no entry of corresponding investment against it, said the official.