 "EOW arrests N.K. Proteins' MD in NSEL scam")
An EOW official said this was the fourth arrest in the fraud. EOW had arrested NSEL's former MD and Chief Executive Anjani Sinha, former Vice-President (market operations) Jai Bahukhandi and former Vice-President Amit Mukherjee.
Patel is the son-in-law of politician Shankarlal Guru, who resigned as chairman of NSEL on August 19.
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NSEL had filed a complaint against five of its defaulting members before the investigation authorities.
This included Ark Imports Pvt Ltd, Lotus Refineries Pvt Ltd, NK Proteins Ltd, Vimladevi Agrotech Ltd and Yathuri Associates.
NSEL, promoted by Jignesh Shah-headed Financial Technologies (India) Ltd, has failed to settle Rs 5,600-crore due to 148 members/brokers, representing 13,000 investor clients, after it suspended trade on July 31, following the government direction.
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