October 26, 2013 9:45 AM

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NSEL crisis: Mumbai police questions Jignesh Shah

The Mumbai police yesterday questioned Jignesh Shah, Chairman and Managing Director of Financial Technologies (India) Ltd. for his alleged role in the 5,600-crore rupee settlement crisis at the National Spot Exchange Limited, NSEL. Senior officials probing the matter said, Shah was questioned in the presence of Anjani Sinha, former MD & CEO of NSEL, to verify some of the statements made by the latter related to the books of accounts of the exchange.Joint Police Commissioner Himanshu Roy told reporters in Mumbai that Sinha is in police custody in connection with the fraud. This was the second time that Shah was questioned by police. During questioning, Sinha put the blame for the crisis on Shah and other board members, saying he had merely executed the directions issued by them.Shah, on the other hand, held Sinha responsible for the payment crisis, which came to light in July. So far, police have arrested four persons, including Sinha, in the 5,600-crore rupee scam and several matters had come to light during interrogation.

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