According to a senior official of the Economic Offences Wing (EOW), which is looking into the Rs 5,600-crore settlement crisis, the investigations have shown that the board minutes of the spot exchange were 'cooked up' with even absent members of the board signing the board papers.
“The board meetings of NSEL were completely orchestrated and the minutes are not authentic on many occasions... We have found out that, on some occasions, board members who were not even present at the meeting have put their signatures on the books... We believe that the board members were aware of all the developments at the exchange,” said the official.
The Mumbai Police wing, meanwhile, has started the process of verifying the assets of the accused and will begin the process of attaching the assets soon. This comes in the wake of the police getting the go-ahead to invoke the stringent Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999.
Last week, Himanshu Roy, joint commissioner of police (crime), had clarified that since the raids by the police have revealed that there is not enough stock to recover investor dues, attachment of assets of the accused was the only way to recover money.
The FIR registered by the EOW names all directors and key management persons of NSEL and Financial Technologies (India) (FTIL) along with the borrower entities.
The police has also decided against making Anjani Sinha an approver in the case after having arrested him on Thursday last week.