NSEL scam: EOW finds 'proof' of Jignesh's role

Meanwhile, at Sessions Court Jignesh Shah and Shreekant Javalgekar bail plea application was adjourned till 10 June

The city police’s economic offences wing (EOW) has been “able to find details to prove Jignesh Shah’s role in the National Spot Exchange scam”, according to one of its officials who declined to be identified.

Jignesh Shah is chairman of Financial Technologies (FTIL), which promoted the exchange. He is currently in judicial custody.  

Commenting on the said EOW disclosure to the media, an NSEL spokesperson said, “These rumours are without any basis whatsoever. Since the matter is sub judice, we would not like to comment further.” At a sessions court on Friday, Shah and Shreekant Javalgekar, earlier director on the NSEL board, had their bail plea application adjourned till June 10. Both are in judicial custody till June 13.

Shah and Shreekant Javalgekar who was director on NSEL board were taken arrested on 7 May by EOW in connection with the Rs 5,600 crore NSEL scam. On 19 May they were sent to judicial custody. EOW has to file a charge sheet against the duo among others in 90 days of their judicial custody.

So far EOW has been able to file one charge sheet where Jignesh Shah and Javalgekar have been named but no charges were framed against them.