2 SHCIL executives arrested

A top team of Kolkata Police on Monday raided the Stock Holding Corporation of India (SHCIL), the country's largest custodian of securities' office in Mumbai, and arrested two of its senior executives.

Non-bailable arrest warrants under Section 420 of IPC was issued against executive vice-presidents R H Mewawala and Vishwanathan and J V Murthy, its ex-vice president, who had resigned from the company last year.

The arrest was done in connection with SHCIL's alleged involvement in the DSQ Software case, which was one of the reasons responsible for the Rs.100 crore payment crisis at Calcutta Stock Exchange in 2004.