)
Chary, who has also served as chairman of the Forward Markets Commission (FMC) in the past, said he fears a conspiracy behind his name being talked about by vested interests with regard to the NSEL crisis.
“Anjani Sinha gave a confessional statement in writing, which has been notarised, and stated clearly what he did, what his key team members did and how they kept the management and the promoters in the dark. As I understand, under the Companies Act, non-executive directors are responsible for only those items that come before them. The MD and CEO is the executive of the company. Sinha accepted clearly that he kept the entire board in the dark,” Chary said.
Chary also defended Jignesh Shah, whose Financial Technologies (FTIL) Group has been engulfed in a major row, since the NSEL payment crisis involving Rs 5,600 crore broke out at NSEL last year. Chary said that Jignesh Shah, like the rest of FTIL’s 70,000 shareholders, held no official positions at the now-crippled NSEL. NSEL was set up by FTIL, which was also among the main erstwhile promoters of MCX and the MCX Stock Exchange. The boards and governing structures of these two bourses have since been restructured. Recently, Sebi declared FTIL unfit to hold stake in MCX-SX among other entities.
Chary also claimed that certain finance ministry officials had played an important role in favouring MCX’s rival NCDEX. “I wrote to the consumer affairs ministry, finance ministry, the anti-corruption bureau of CBI, and even the PMO, but no communication (has come) from them till date,” he said.
When asked whether he saw any political conspiracy behind the alleged CBI case against him and another former bureaucrat C B Bhave, who served as Sebi chairman, Chary answered in the affirmative but did not elaborate.
“All I can say is that there is a conspiracy behind all this and I am not going to let it pass. I will take legal action against those responsible for tarnishing my image over the NSEL controversy, with which I have nothing to do,” he said.
