 "EOW to call brokers for investigations shortly")
The Economic Offences Wing (EOW) of the Mumbai Police will shortly commence investigations of brokers who allegedly mis-sold contracts of National Spot Exchange Ltd (NSEL) resulting into Rs 5500 crore payment default.
EOW has already sent notices to over 200 brokers involved in trading activities on NSEL. “We will call them for investigations shortly,” an EOW official said.
Meanwhile, the Wing has already completed investigations of 23 borrowers following which actions have been taken against a few of them. Others, apparently, have evinced interest in settling the account with NSEL for which negotiations are still on.
Today, Jignesh Shah and Joseph Massey, the two ex-directors of NSEL were summoned by EOW for briefing.
“It would not be right to comment on FMC judgment at this point in time. We are examining the order. We will inform you shortly,” said Shah.
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