 "EOW arrests NSEL's former assistant V-P")
A day after it arrested National Spot Exchange Ltd’s (NSEL) former assistant vice-president Amit Mukherjee, the economic offences wing (EOW) of Mumbai Police arrested Jai Bahukhandi, former assistant vice-president of NSEL, on Thursday evening. Charged with bribery and fraud, Bahukhandi will be produced before a court on Friday morning. His is the second arrest in connection with the Rs 5,600-crore scam.
Bahukhandi, along with managing director Anjani Sinha, was removed from NSEL on August 20, after the exchange defaulted. Sinha had alleged in his affidavit in the second week of September that Bahukhandi was in-charge of the warehouse department, as NSEL had designated his team as the custodian of the stocks that borrowers had pledged with the exchange.
Later on when the crisis came out in open after trading was suspended by the exchange on 31 July, it was found that there was virtually no stock or stock worth very little compared to claims.
In the NSEL crisis where investors have lost Rs 5574 crore out of which hardly 3% have come so far after 8 weeks.
Bahukhandi, along with managing director Anjani Sinha, was removed from NSEL on August 20, after the exchange defaulted. Sinha had alleged in his affidavit in the second week of September that Bahukhandi was in-charge of the warehouse department, as NSEL had designated his team as the custodian of the stocks that borrowers had pledged with the exchange.
Later on when the crisis came out in open after trading was suspended by the exchange on 31 July, it was found that there was virtually no stock or stock worth very little compared to claims.
In the NSEL crisis where investors have lost Rs 5574 crore out of which hardly 3% have come so far after 8 weeks.
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