EOW struggles for Forensic Auditors to crack down NSEL crisis case.

2.  National Spot Exchange Limited (NSEL) crisis came to light
on 31st July 2013
 Exchange was forced to suspend all of its trading contracts
 Regulatory body, Investigation Agencies & NSEL had
declared 24 members as NSEL Defaulters
Introduction

3.  Economic Offences Wing (EOW) of Mumbai Police is
investigating the NSEL crisis case of Rs.5600 cr
 EOW had written for the third time to the Home Department
demanding the appointment of Forensic Auditors for the case
 As the Forensic Auditors are must for such cases
 Forensic Auditors' fundamental job will be connecting links to
the money trail & finding the flow of money from one place
to another
Economic offences Wing (EOW)

4. “We have done our investigation, filed charge sheet & had
even made arrests. Since our probe is still on, we are studying
the money trail & how the money was siphoned off. The probe
on the involvement of brokers is still going”
What Senior Police official said

5.  EOW have secured properties belonging to the accused
 It is estimated that properties are worth over Rs.5,400 cr
 Properties worth Rs.3400 cr of Rs.5400 cr have been gazetted
for disposal
 The money form the disposal of properties shall be collected
& distributed among the investors
Media Reports

6.  State govt. has already appointed a Deputy Collector as
Competent Authority (CA)
 Deputy Collector as CA shall disburse all the attached
properties
 But EOW wants a special dedicated CA for the NSEL crisis
case
 A request letter to the Home Department has already been
sent by EOW
EOW wants dedicated CA

7. THANK YOU