Stepping up action in the 5,600-crore rupees NSEL money laundering case, the Enforcement Directorate yesterday attached assets worth 1,170 crore rupees of Financial Technologies India Ltd (FTIL). <br/><br/>The agency said it has issued a provisional order under the Prevention of Money Laundering Act (PMLA), attaching bonds and securities worth 1,065 crore rupees and 30 crore rupees balance kept in a private bank in Mumbai of FTIL, now known as Ms 63 Moons Technologies Limited.<br/><br/>In a statement by ED, it was said that National Spot Exchange Limited (NSEL) had laundered proceeds of crime to the extent of 1,102.03 crore rupees and 236.05 crore rupees and these proceeds of crime have been placed, channelled, layered and integrated by NSEL in the form of personal, operating and financial expenses. The ED, along with the Economic Offences Wing (EOW) of Mumbai Police, had registered a criminal case under the PMLA in 2013 to probe the case.<br/><br/>The agency had recently made a few arrests in the case including that of FTIL founder Jignesh Shah.
News On AIR | October 1, 2016 8:32 AM
NSEL PMLA case: ED attaches Rs 1,170 crore assets of FTIL