BackNSEL scam: ED attaches properties of Lotus Refineries
Lotus Refineries CMD Arun Kumar Sharma had used borrowed money to purchase these properties
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Mumbai: The Enforcement Directorate (ED) on Wednesday attached the flats and offices worth ₹ 17.98 crore belonging to Lotus Refineries under the Prevention of Money Laundering Act in connection with the ₹ 5,600-crore NSEL scam.
An ED officer said Arun Kumar Sharma, chairman and managing director of Lotus Refineries, had used borrowed money to purchase these properties. “We have also recorded his statement and are further investigating," the officer said.
Sharma, a film financier, was arrested by the economic offence wing of Mumbai Police in November last year. He later got bail.
MCX promoter Jignesh Shah, arrested in the case by the EOW, was last month granted bail.
Shah came under the scanner of EOW and other agencies last year when NSEL (a part of the Financial Technologies Group founded by Shah) faced a payment crisis and nearly 18,000 of its investors allegedly lost millions of rupees.
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