NSEL scam: Court extends Rathi''s police custody till March 13

Mumbai, March 7

The special court for MPID (Maharashtra Protection Of Interest Of Depositors) Act cases on Saturday extended the police custody of Amit Rathi, managing director of Anand Rathi Commodities, till March 13 in connection with the Rs 5,600-crore scam at National Spot Exchange Ltd

Rathi, India InfoLine Commodities vice-president Chintan Modi and Geojit Comtrade full-time director C P Krishnan, were arrested on Tuesday by Mumbai Police's economic offences wing.

Seeking further custody of Rathi , special public prosecutor Avinash Avhad argued that he was an active director and had links with the Financial Technologies (India) Ltd (FTIL), the holding company of NSEL.

The EOW wanted to probe all the internal links between these companies. Further, the investigating agency was also examining certain suspicious transactions made by the accused through his relatives, he said.

Earlier this week, while the court had remanded Modi and Krishnan to police custody till March 13, it granted the police Rathi’s custody only till Saturday. It had also asked the police to show how Rathi was involved in the scam.

So far, 24 people have been arrested in the case.  — PTI