Ex-SHCIL chief booked

Kolkata police has filed a chargesheet against former managing director and CEO of Stock Holding Corporation of India Ltd (SHCIL) V B Gaur and other co-accused for their attempt to siphon off funds from the settlement guarantee fund of the Calcutta Stock Exchange (CSE) and SHCIL.

Besides, they have also been accused of rigging the price of DSQ Industries through circular trading. Interestingly, the case was initially lodged by SHCIL for alleged siphoning of funds from the organisation.

Investigations later revealed that some SHCIL executives, including its former CEO, were involved in the transactions.

Besides Gaur, Dinesh Dalmiya of DSQ Software, former CSE brokers Harish Biyani, Ramesh Biyani, Dinesh Singhania and Raj Patni and some more SHCIL executives were chargesheeted on Fridayby the police.

The special cell of the detective department of Kolkata police had been investigating the share scam of 2001.

"Gaur, Dinesh Dalmiya, Harish Biyani and others were directly involved in circular trading of the shares of DSQ Industries. Besides, SHCIL had issued a cheque of Rs 24.44 crore to Harish Biyani under the cash and pay out scheme.

This scheme of SHCIL was availed by only Biyani during that period," a police official said.