NSEL crisis: Assets of Shah,2 others attached

Shahs properties include a bungalow in Juhu,a rowhouse in Aarey Colony both in Mumbai and also a plot of land in Pune. Apart from this,we have also attached his 1.19 lakh shares in the FTIL worth Rs 178.5 crore,shares in another company worth Rs 51 lakh,Rs 11 crore in fixed deposit accounts and five demat accounts which are still being evaluated, said Additional Commissioner of Police EOW Rajvardhan Sinha.

Besides Shah,the EOW also attached four flats belonging to former MD of MCX Shreekant Javalgekar as well as two flats and shares worth Rs 98 lakh of former MD and CEO of MCX-SX,Joseph Massey,both of whom are directors of the NSEL and are named as accused in the NSEL payment crisis case.

In October this year,the EOW had invoked the Maharashtra Protection of Interests of Depositors MPID Act in the case,which empowers the agency to attach properties of defaulting borrowers of the NSEL and auction them off,so that the proceeds of the auction can be paid to the 13,000 investors who have allegedly lost their money in the scam.

Till date,we have attached 206 properties and frozen Rs 170.97 crore in 322 bank accounts belonging to various people. The total value of the attached assets is Rs 2,985.9 crore, Sinha said.

Bourse defaults for 16th time

New Delhi: NSEL on Tuesday paid around Rs 9 crore against the scheduled payment amount of Rs 174.72 crore,defaulting for the 16th straight time.

With Tuesdays pay-out,NSEL has so far settled about Rs 244 crore against Rs 5,600 crore dues to 13,000 investors.

Topworth Steels and Power has made a payment of about Rs 9 crore to the exchange,while 23 of other investors have defaulted,a NSEL spokesperson said. PTI