Rs 5,600cr NSEL scam: I-T dept denies info, FMC dodges queries

NEW DELHI: The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore payment default by National Spot Exchange Limited (NSEL) saying it would “hamper the process of investigation or apprehension of offenders”.
“Details of investigation being done by the Income Tax department cannot be divulged as this would hamper the process of investigation or apprehension or prosecution of offenders,” it said in reply to an RTI query seeking details of probe against the bourse.
Replying to the RTI application, the Department of Economic Affairs (DEA) said the complaints related to alleged financial irregularities, as and when received, are forwarded to Forward Markets Commission (FMC).
The DEA also said that no investigation is being made by it against the NSEL, its supported or associated companies, their promoters and government officials for their alleged involvement in payment default case in the exchange. “Complaints related to alleged financial irregularities, as and when received against the NSEL and its promoters, are forwarded to the FMC, Mumbai for action as appropriate,” it said adding that the application was being forwarded to the commission for giving further information. —PTI