COVER STORY
scam nsel
Living Dangerously
Despite the National Spot Exchange (NSEL) scam running into a whopping Rs 5,600 crore, and its details out in the open, the authorities seem reluctant to act. While arrests have been made in all major scams—from Hawala to 2G to Coalgate—Jignesh Shah, the alleged kingpin behind the multi-crore NSEL scam, continues to roam freely. After the gfiles story in June 2013, NSEL operations were halted. But investigations began only after the gfiles cover story in September 2013. Still, Jignesh Shah roams scot-free. Sources disclose that Shah has engaged some of the best lawyers in the country to pre-empt any government move to arrest him. Is the law for scamsters or for exposing the truth? Neeraj Mahajan analyses the scam and brings the latest updates on the developments taking place in the law enforcement agencies and the Ministry of Consumer Affairs.
THERE is a saying in Gujarati that if your mother is serving and even if you are way behind in the queue – the least you can expect is an extra ladoo (sweets) in your plate. This explains why both Jignesh Shah and Ketan Parekh are managing to hoodwink the law even after committing grave financial crimes. Unlike Harshad Mehta, Hasan Ali and A R Telgi, Shah and Parekh have managed to evade the law because of their political connections....Read More
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