Investor Vishvanidhi Dalmia accused of colluding with NSEL's prime accused Jignesh Shah, as revealed in Maharashtra Government's affidavit filed in Bombay High Court.
Read Full ArticleEconomicOffencesWingofMumbaiPolicewhowas subsequently investigating the matter, had filed 3 charge sheets but not a single rupee has been traced by money trail to the petitioner as a promoter not the petitioner was named as an accused. The High Court relied on the Carona Limited v. M/s. Parvathy Swaminathan and Sons had concluded that the NSEL is not a Financial Establishment and therefore, the petitioner who is a promoter of the said establishment cannot be proceeded under the provisions of MPID Act. Hence, we are constrained to quash and set aside the action to which the petitioner is subjected to by taking recourse to the provisions of MPID Act.
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![Investor Vishvanidhi Dalmia accused of collusion in NSEL Scam, Maharashtra Govt Affidavit reveals [Read Affidavit]](/secure/uploads/2024/07/lj_5854_dalmia2.webp)
