The Economic Offences Wing of the Mumbai police said it is considering disbursing money on a pro-rata basis to the affected investors of the National Spot Exchange Ltd payment scam, even before a chargesheet has been filed.
Joint Commissioner of Mumbai police Himanshu Roy on Wednesday said that usually liquidation of assets is carried out only after a chargesheet is filed. However, this is a standalone case involving large number of investors, “who have pressing needs, so we are considering liquidation,” he said.
The payment would be done from the properties, bank accounts and other assets of the accused.
On Tuesday, the Economic Offences Wing (EOW) had attached the assets of Jignesh Shah, promoter of National Spot Exchange Ltd (NSEL), Joseph Massey, former chief executive officer of MCX Stock Exchange Ltd; Shreekant Javalgekar former chief executive officer and managing director of Multi Commodity Exchange of India Ltd (MCX); and Shankarlal Guru, former Chairman of NSEL, in connection with the scam.
Roy said that the EOW was determined to take the case to its logical conclusion and in the coming days more arrests are likely to be made in the case. The Securities and Exchange Board of India has also been informed about the attachment of shares of Jignesh Shah and other directors of NSEL in various companies, he said.
NSEL investors also met Roy on Wednesday and asked the police to take action against Javalgekar, as they alleged that he was the main financial controller of MCX, NSEL and Financial Technologies, and was fully aware of all the issues in the companies. Roy said he would look into the matter.