Former National Spot Exchange (NSEL) director Jignesh Shah on Thursday visited the Economic Offences Wing of the Mumbai Police Crime Branch, which is probing the multi-crore rupee scam allegedly perpetrated by officials of the NSEL. According to EOW officials, Shah reached the EOW office on Thursday afternoon and met senior EOW officials. The meeting went on till late on Thursday evening.
“Shah had not been summoned by us. He came of his own accord in order to brief us on the efforts that he is taking to recover the money of the investors,” said Rajvardhan Sinha, additional commissioner of Police , EOW.
When asked about his visit, Shah said, “I am committed to the process of recovery. Let the law take its course.”
On Tuesday, the EOW had attached Shah’s assets, which include three properties in Mumbai and Pune, a large amount of shares and money in bank accounts, under provisions of the Maharashtra Protection of Interests of Depositors (MPID) Act.
EOW officials said that after they were done attaching assets of defaulters, they would also consider doing the same for brokers who were involved in the NSEL scam and have been named as accused in the complaint.
“After the process of attaching the defaulters’ assets is complete, we will examine books of accounts of the brokers involved. Wherever it is applicable under the MPID Act, we will also attach their assets as part of process of recovering the investors’ money,” said a senior EOW official.
The EOW has so far attached assets worth R2,985.9 crore, while the investors have allegedly lost R5,600 crore in the scam.