In order to verify the details and accusations leveled by Anjani Sinha,former head of NSEL,the Mumbai police on Friday grilled Jignesh Shah,promoter of beleaguered NSEL and founder of Financial Technologies,for over six hours on Friday.
The police officers had confronted him with arrested accused Sinha when both blamed each other for the crisis. So far,four accused have been arrested in the case and they revealed many things during the interrogation, said Himanshu Roy,joint commissioner of police (crime).
The four accused are Anjani Sinha,who was held on October 17,Amit Mukherjee,an ex-assistant vice-president of NSEL who was nabbed on October 9 and Jay Bahukhundi,another ex-assistant vice-president and in-charge of KYC department,who was arrested on October 10. On Tuesday,Nilesh Patel,managing director of NK Proteins Ltd,one of the biggest defaulters of the NSEL,was arrested.
During questioning,Sinha blamed Shah and other board of directors,saying he carried out the exchange functioning as per Shahs directions. While Sinha and Patel are in police custody,the other two were remanded in judicial custody.
According to police,Shah was called by the Economic Offence Wing around 11.30 am on Friday and his questioning continued till 6 pm.
This is the second time Shah turned up before the EOW officials. We will call Shah again if we need to ask him further questions, said Roy. Sinha,Patel and Shah were confronted when Sinha and Shah blamed each other for the mess in the spot exchange,leading to verbal feud on some occasions,police sources said but did not reveal Patels version.
In an affidavit filed before a court regarding the NSEL payment crisis,Sinha held himself guilty for the crisis,besides NSEL board. However,Sinha has filed a second affidavit before the police days before his arrest in which he put the entire blame of Shah, Roy added.
The police officers further said that Mukherjee,who is presently in judicial custody,used to hunt for the companies that were blacklisted by various banks to offer them loans. Mukherjee used to approach banks seeking their data on blacklisted companies and then go to these companies with a promise to offer them finance from NSEL, said another officer.
An FIR was registered in the case on September 30 by the EOW against the directors,including Shah and Joseph Massey,promoters and defaulters. All of them have been charged with cheating,forgery,breach of trust and criminal conspiracy.
Another FTIL director quits
New Delhi: Financial Technologies on Friday said Chandrakant Kamdar has resigned from its board as director,amid continuing payment crisis in group firm NSEL.
The company has appointed retired IAS officer A Nagarajan as additional director (non-executive and independent) on the board of the company,it said in a BSE filing.
FTIL has so far seen five directors CM Maniar,N Balasubramanian,R Devarajan,PR Barpande and TC Nair quit the company. pti