The Economic Offences Wing of Mumbai Police has no plans of making former chief executive of National Spot Exchange Ltd Anjani Sinha an approver in the ongoing investigations.
Sinha, along with Amit Mukherjee and Jay Bahukhundi, former Assistant Vice-Presidents of the exchange, have been arrested by the Economic Offences Wing in the Rs 5,600 crore-scam, which rocked the financial market.
Additional Commissioner of Police (EOW) Rajvardhan said that there is enough evidence to prove the charges against the accused. The money and document trail has been established. The data from the exchange servers has been accessed, he said.
The EOW is examining the provisions of the Maharashtra Protection of Interest of Depositors (MPID) Act for attachment of the property of the accused. The assets for attachment have been identified and their ownership is being established. Under MPID Act, special courts can try such offences, he said.
Rajvardhan added that the nature of the trading software, which was used by NSEL, is also being probed. The software, which was being provided by the parent company (Financial Technologies) of the exchange, was designed in such a manner that it provided more benefits to the parent. The higher the volume of transactions on the exchange, Financial Technologies would get additional benefits.