to take crucial decisions and that the board and the promoters were responsible for the lack of proper risk management and other systems.
Joseph Massey, an NSEL board member, was also called to the EOW, after which Anjani Sinha was questioned in the presence of Massey. Sources say this was done with a specific motive of corroborating some of the statements made by Anjani Sinha.
“The allegations made by the accused against the NSEL board members including Jignesh Shah and Joseph Massey should not be taken at face value. The matter is under investigation and we cannot comment further,” said an NSEL spokesperson.
Meanwhile, the Forward Markets Commission has given Financial Technologies India Ltd (FTIL), NSEL’s parent, until October 31 to respond to the show-cause notice issued by it questioning the ‘fit & proper’ status of the board of directors and the promoters.