Chandigarh firm’s director held in NSEL scam | India News


MUMBAI: The city economic offences wing (EOW), probing the Rs 5,600-crore National Spot Exchange (NSEL) scam, recently arrested Amit Dewan, director of White Water Food Pvt Ltd, from Chandigarh. He has been remanded in police custody till May 6.
In January, EOW had arrested NSEL former director Joseph Masse, after he gave police the slip and fled from his flat.
“Our team picked up Dewan from Chandigarh. His company had received Rs 84 crore from NSEL against fictitious trade. The fictitious trading took place in 2012-13,” said an investigator. Dewan, a director in the firm, studied up to class XII. His brothers, Kamalkan and Mohit, were arrested in 2015 but are out on bail. Their bank accounts, two factories in Haryana and plots, collectively worth over Rs 50 crore, were attached.
The investigation is nearing its last stage and a final charge-sheet is likely to be filed soon.


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