Economic offenses wing of the Mumbai police (EOW), which is investigating the fraud case NSEL 5,600 crore, been found to have diverted funds from defaulters trade NSEL to buy companies abroad, but transfers funds were not necessarily legal. For example, Aastha Minmet a sister concern of Juggernaut, invested about 8.3 crore rupees in a Singapore company, Akshaj Ventures.
“We have encountered several delinquent companies who have invested money in buying companies abroad. We do not wish to share all the details of our investigation at this stage. There are clear indications of Hawala in some cases and are in contact with the Enforcement Directorate (ED), “said Rajvardhan Sinha, additional commissioner of police, EOW.
Meanwhile, the EOW on Friday disputed BG Pawar, an accused in the scam NSEL, Mohit Aggarwal of Juggernaut, some directors of Kasturi and imports ARK. “We are questioning concerning the land, plants and machinery purchased by their company and various other topics. Lets call some other directors on Monday,” said Sinha.
He said detainees accused and former office bearer NSEL Anjani Sinha had made more than Rs 70 million rupees. Anjani Sinha is said to have invested heavily in real estate. “We have written to the RBI to determine why a lot of money moved abroad and what was the reason given by the companies while the transfer of funds,” said an officer.
The investigating officials also are collecting the second list of defaulters properties are to be joined. On Thursday and Friday, the EOW sent messages to collectors and tehsildars in several states to set 25 property owned by the defaulters. Police are also planning to arrest sixth Saturday in the case of NSEL fraud. “Let’s pick a suspect on Saturday,” police sources said.
In a related development, Saharanpur police on Friday took custody of the two accused, Amit Mukherjee and Anjani Sinha, and took them to Uttar Pradesh.
Reported: Economic Times