Police arrest ex-NSEL CEO Anjani Sinha | business | Hindustan Times
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Police arrest ex-NSEL CEO Anjani Sinha

The EOW has also invoked Maharashtra Protection of Investors Deposit (MPID) Act in the case, which gives them power to attach properties of the accused.

business Updated: Oct 18, 2013 00:05 IST
HT Correspondent

In the third arrest in the Rs 5,600-crore National Spot Exchange Ltd (NSEL) payment crisis that has affected 13,000 investors, the Economic Offences Wing (EOW) of the Mumbai crime branch on Thursday arrested the company’s former chief executive Anjani Sinha.

The EOW has also invoked Maharashtra Protection of Investors Deposit (MPID) Act in the case, which gives them power to attach properties of the accused.

Deputy commissioner of police (EOW) Bal Singh Rajput confirmed the arrest.

Officials said the allegations on Sinha were that he received bribe from the companies that borrowed from NSEL and despite knowing all wrongdoings in the NSEL did not take any action.

The police had arrested Amit Mukherjee, a former assistant vice-president of the exchange on October 9, while Jay Bahukhundi, another former assistant vice-president, was arrested the next day.