ED attaches FTIL's mutual fund investment worth Rs 135-cr

In a fresh action in the Rs 5,600 crore payment crisis on the National Spot Exchange Ltd (NSEL), the enforcement directorate (ED) has attached investment worth Rs 135 crore in mutual funds etc. of NSEL promoter 63 moons technologies ltd (formerly known as Financial Technologies (India) Ltd).

With this, total attachment of immovable and movable assets in NSEL case has risen to Rs 2,191 crore.

Confirming the development, an ED official said that the investigating agency has attached mutual fund and other investments assets worth Rs 135 crore belonging to FTIL in NSEL case.

Since the payment crisis erupted on NSEL in July 2013, various investigating agencies including the ED, the economic offences wing (EOW) of the Mumbai Police and others have attached movable and immovable properties worth thousands of crores. Interestingly, in consultation with the concerned courts, some of the attached properties of defaulters were liquidated as well.

In NSEL case, there were 24 defaulters responsible for siphoning off Rs 5,600 crore investment made by 13,000 traders on the exchange platform.

In July 2016, the EOW had attached the iconic FT Tower worth Rs 2,000 crore in the same case.