EOW: Deal with investors not to affect criminal proceedings

Nov 23 2013, 19:20 IST
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EOW has clarified that any such settlement will have no bearing on the ongoing criminal proceedings (Reuters) EOW has clarified that any such settlement will have no bearing on the ongoing criminal proceedings (Reuters)
SummaryA day after a group of investors under the umbrella body of the NSEL Investor Forum...

A day after a group of investors under the umbrella body of the NSEL Investor Forum said they are in negotiations with Financial Technologies India Ltd (FTIL) for a settlement, the Economic Offences Wing (EOW) has clarified that any such settlement will have no bearing on the ongoing criminal proceedings.

ďA quashing petition needs to be filed in the court, which will then decide if the complaint can be withdrawn. Our view will also be taken into account," said Rajvardhan Sinha, additional commissioner of police (EOW).

Sinha clarified that police are not concerned with any kind of settlement or consensus reached between borrowers, investors and NSEL promoters.

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