The Maharashtra Protection of Interest of Depositors (MPID) court on Friday awarded six-day judicial custody to Joseph Massey, the former director of the scam-hit defunct spot commodity trading platform National Spot Exchange Ltd (NSEL) in connection with a Rs 5,600-crore payment default.
Massey has been in police custody since his arrest by the Economic Offences Wing (EOW) of the Mumbai Police on January 27.
The former NSEL director, in the meanwhile, has moved a bail application in the MPID court claiming that he has been fully co-operating with the police in the ongoing investigation. The court is set to start hearing his bail plea on Monday. Massey will now be produced before the court on February 13.
The police asked for his custody to be extended, in order to confront him along with former NSEL managing director Anjani Sinha.
The police also informed the court that Massey was using WhatsApp to interact with other directors of NSEL at the time of the financial crisis. “It is crucial to check his mobile app in consultation with technical experts and interrogate him,” special public prosecutor Sunil Gonsalves told the court.