NSEL scam: Court extends Rathi's police custody till March 13 | mumbai | Hindustan Times
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NSEL scam: Court extends Rathi's police custody till March 13

mumbai Updated: Mar 07, 2015 22:14 IST
Amit Rathi

The special court for MPID (Maharashtra Protection Of Interest Of Depositors) Act cases in Mumbai on Saturday extended the police custody of Amit Rathi, managing director of Anand Rathi Commodities, till March 13 in connection with the Rs 5,600-crore scam at National Spot Exchange Ltd.

Rathi, India InfoLine Commodities vice-president Chintan Modi and Geojit Comtrade whole-time director CP Krishnan, were arrested on Tuesday by Mumbai Police's economic offences wing.

Special public prosecutor Avinash Avhad argued while seeking further custody of Rathi that he was an active director and had links with the Financial Technologies (India) Ltd (FTIL), the holding company of NSEL.

The EOW wanted to probe all the internal links between these companies. Further, the investigating agency was also examining certain suspicious transactions made by the accused through his relatives, he said.

Earlier this week, the court had remanded Modi and Krishnan in police custody till March 13 but sent Rathi in police custody only till Saturday. It had also asked the police to show how Rathi was involved in the scam.

So far, 24 people have been arrested in the case.