The Maharashtra Protection of Interest of Depositors (MPID) court on Monday granted bail to three arrested brokers in the Rs 5,600-crore scam at National Spot Exchange Ltd (NSEL).
The three brokers —Amit Rathi, director of Anand Rathi; C P Krishnan, director of Geofin Comtrade; and Chintan Modi, director of India Infoline Commodities —were arrested on March 3 for alleged mis-selling of NSEL’s contracts.
The court asked them to deposit a fixed deposit certificate of Rs 20 lakh each as surety for bail. They did so. After serving one week of police custody immediately after the arrest, the trio were sent for judicial custody until bail was granted.
