The Economic Offences Wing (EOW) of the Mumbai police has arrested Rajesh Mehta, an accused in the Rs 5,600-crore National Spot Exchange Limited (NSEL) scam. He is the owner of Gujarat-based Swastik Overseas. Rajvardhan Sinha, ACP of EOW, has confirmed the arrest.
Swastik Overseas owes NSEL Rs 113.33 crore.
EOW had alleged the money borrowed by Swastik from NSEL's platform was used to purchase properties in Gujarat under benami. The land was held in farmers' names.
Rajiv Todi, the other partner of Swastik Overseas used to earlier work for NK Proteins, the largest borrower in the spot exchange. After he realised that NK Proteins has been receiving money from NSEL, he started his own company and also started to borrow from NSEL. EOW officials had already questioned Todi.
Swastik Overseas owes NSEL Rs 113.33 crore.
EOW had alleged the money borrowed by Swastik from NSEL's platform was used to purchase properties in Gujarat under benami. The land was held in farmers' names.
Rajiv Todi, the other partner of Swastik Overseas used to earlier work for NK Proteins, the largest borrower in the spot exchange. After he realised that NK Proteins has been receiving money from NSEL, he started his own company and also started to borrow from NSEL. EOW officials had already questioned Todi.
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