EOW issues summons to director of three companies that defaulted Rs 703

Written By Unknown on Rabu, 13 November 2013 | 22.23

MUMBAI: The city economic offences wing (EOW) on Wednesday summoned Balbir Singh, the director of Loil Overseas food Ltd., Loil continental foods Ltd., and Loil health foods Ltd., in connection with the Jignesh Shah-prompted Rs 5,600 crore NSEL fraud. The three companies together defaulted over Rs 703 crore to NSEL.

Rajvardhan Sinha, additional commissioner of police (EOW), said that they summoned Jagmohan Garg, director of Mohan India, too, for questioning. "Till date we have identified 166 properties belonging to different defaulters. Of these properties, we have attached 102 properties and are busy in other properties. The EOW has frozen various bank accounts and sealed properties that collectively worth Rs 145.57 crore." Among the attached prperties, 12 belong to N K Proteins and are located in Mumbai, Ahmedabad and Delhi.

"We will be making some arrest in the case soon and don't want to disclose the finding of our probe till date. We are collecting evidence against the accused and will be attaching some more properties in the days to come," added Sinha. The police have so far arrested five persons in this case. Jignesh Shah, chairman of the FTIL, will again be summoned for questioning, said a police source.

"While we had issued summon to 74 people, more than 70 have turned up till date. Some of them did not come for questioning citing health reason. We are not in a hurry. We are in the process of recording and corroborating statements," said an officer.


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