NSEL investors demand speedy probe in Rs 5,600-cr scam

Investors write to new Mumbai Crime Branch chief complaining shoddy investigation

NSEL Investors' Action Group (NIAG) has called for swift and stringent action against conspirators in the Rs 5,600 crore payment default at National Spot Exchange Ltd (NSEL).

A letter addressed to Atul Kulkarni, Joint Commissioner of Police (Crime), NIAG alleged Mumbai Police's shoddy investigation and slow progress in action against perpetrators of the fraud.

"Slowly, we are observing that the investigation by EOW wing of Mumbai police has turned in to a cruel joke on 13000 families in this heinous scam. It is amply clear and shameful that for reasons best known to them, Mumbai police is purposely going slow on Jignesh Shah, Finantial Technologies and other perpetrators of the fraud," alleged the letter.