ED summons India Infoline director in NSEL case

Chintan Modi would be present himself for the ED investigation on Monday

After National Spot Exchange Ltd (NSEL) and its promoter, Financial Technologies (India), the Enforcement Directorate has intensified investigations of brokers whose names were mentioned in the interim report from a high court committee (HCC) in the Rs 5,600-crore payment crisis at NSEL.

The ED has issued a summon to Chintan Modi, director of India Infoline Commodities, asking him to appear on Monday. Modi has been summoned under the Prevention of Money Laundering Act. Sources said Modi had would present himself before the ED.

An IIFL spokesperson said, “India Infoline Commodities have been cooperating with authorities all along in the NSEL matter and is providing necessary information as required.”

A couple of weeks ago, the ED had summoned Motilal Oswal, chairman of Motilal Oswal Securities.