Enforcement Directorate (ED) on Wednesday filed its charge sheet against 68 persons including the directors of the National Spot Exchange Ltd (NSEL), its key officials and the officials of defaulting companies in the Rs 5,600 crore fraud at the commodity spot exchange, according to senior ED officials.
The ED filed the charge sheet before the Principal Judge in the Sessions Court in Mumbai.
The National Spot Exchange Ltd payment scam came to light on July 31, 2013, when the exchange suspended trading in all its contracts. NSEL proposed a payout plan on August 14, 2013, but the commodity spot exchange had not been able to make a single successful payout till date.
Since then, NSEL and its directors have been under the scanner of multiple investigative agencies in the country.
So far the ED has seized assets worth Rs 700 crore of the 24 defaulters of the commodity spot exchange. These include attachment of Gujarat-based castor oil plant of NK Proteins Ltd worth Rs 278.18 crore, land and fixed deposits of over 60 crore of Mohan India Pvt Ltd among others under the Prevention of Money Laundering Act.
NSEL has declared 22 members as defaulters after the payment crisis broke out, and the total outstanding from these defaulters’ as on January 30, 2015, stands at Rs 5,318.57 crore.
So far only 11of the 22 defaulters have admitted liabilities of about Rs 2,095 crore before various courts in the NSEL.