BackNSEL case: EOW attaches assets worth Rs6,000 crore
The agency has also arrested Ranjeev Agarwal, director of PD Agroprocessors, and Gagan Suri, proprietor of Yathuri Associates
Premium
Mumbai: The economic offences wing (EOW) of the Mumbai police on Tuesday said it has attached assets worth around Rs6,000 crore in connection with the fraud at the National Spot Exchange Ltd (NSEL).
Rajvardhan Sinha, additional commissioner of police (EOW), said the agency has also arrested Ranjeev Agarwal, director of PD Agroprocessors Pvt. Ltd, and Gagan Suri, proprietor of Yathuri Associates, in the Rs5,574.35 crore NSEL scam.
Both Agarwal and Suri have not cooperated in the NSEL investigation, according to Sinha.
PD Agroprocessors and Yathuri Associates owe Rs674.09 crore and Rs405.60 crore to NSEL, respectively.
Sinha said the EOW has also attached edible oil brand Tirupati belonging to NK Protiens Ltd., the top defaulting borrower of NSEL.
NK Proteins owes Rs938.59 crore to NSEL.
According to a PwC evaluation commissioned by the EOW, Tirupati is estimated to be a Rs300 crore brand.
Earlier, the EOW had attached basmati rice brand Dunar belonging to PD Agroprocessors. Dunar is valued at Rs600 crore according to the PwC report cited above.
“The merger of NSEL with Financial Technologies (India) Ltd won’t affect our investigation. Our probe is on track and will continue against all the accused," Sinha said on Tuesday.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
