Saturday, November 9, 2013

NSEL defaulters diverted funds abroad, say police

5,600CR SCAM


Mateen Hafeez TNN

Mumbai: The Mumbai police’s economic offences wing (EOW), which is probing the Rs 5,600-crore NSEL fraud case, has found that some defaulters had diverted money made from NSEL trading to buy companies abroad but the funds transfers were not always legal. For instance, Aastha Minmet, a sister concern of Juggernaut, invested about Rs 8.3 crore in a Singapore firm, Akshaj Ventures.
 
    “We have come across several defaulter firms that have invested money in buying companies abroad. We don’t want to share all the details of our probe at this stage. There are clear indications of hawala in some cases and we are in touch with the Enforcement Directorate (ED),” said Rajvardhan Sinha, additional commissioner of police, EOW. 

    Meanwhile, the EOW on Friday questioned B G Pawar, an accused in the NSEL scam, Mohit Aggarwal of Juggernaut, some directors of Kasturi and ARK Imports. “We are questioning them about the land, plants & machinery bought by
their companies and several other issues. We will be calling some other directors on Monday,” added Sinha.
 
    He said that the arrested accused and former NSEL office bearer Anjani Sinha had made more than Rs 70 crore. Anjani Sinha is said to have a large investment in real estate. “We have written to the RBI to find out why a huge amount of money went abroad and what was the reason given by the companies while transferring the funds,” said an officer.
 
    The investigating officers are also compiling the second list of properties that are to be attached. On Thursday and Friday, the EOW sent messages to collectors and tehsildars in various states to attach 25 properties belonging to the defaulters. The police are also planning to make the sixth arrest on Saturday in the NSEL fraud case. “We will pick up a suspect on Saturday,” police sources said.
 
    In a related development, the Saharanpur police on Friday took the custody of two accused, Amit Mukherjee and Anjani Sinha, and took them to Uttar Pradesh. 
 
The Times of India, November 9, 2013

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