NSEL crisis: EOW arrests chief of Lotus Refineries

Nov 12 2013, 08:51 IST
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Financial Technologies, which owns crisis-ridden National Spot Exchange, holds 26 per cent stake in Multi Commodity Exchange of India Ltd (MCX). Financial Technologies, which owns crisis-ridden National Spot Exchange, holds 26 per cent stake in Multi Commodity Exchange of India Ltd (MCX).
SummaryLotus Refineries chief is alleged to have defaulted on Rs 159 crore that he borrowed from the NSEL

Monday.

Multi Commodity Exchange of India Ltd

Officials said that he was quizzed in connection with the discrepancies in the minutes of the NSEL’s board meetings.

“We have found that Massey was not even in Mumbai when some board meetings were conducted, and still his signature was seen on minutes of the meetings,” said an officer.

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