CBI Found 9 shell companies under NSEL scam

New Delhi May 09: The Central Beuro of Investigation department has been found here on Tuesday on the role of nine shell companies, including several defaulters, for allegedly diverting proceeds related to the National Spot Exchange Limited (NSEL) scam to other avenues.

While coming to matter, The agency in its probe of bank frauds has found that NSEL run by FTIL rpt FTIL was allegedly using nine shell companies namely

Brinda Commodity Pvt Limited,

Tavishi Enterprises,

Mohan India,

PD Agro Processors,

Dunar Foods,

White Water Foods,

ARK Imports,

Vimaladevi AgrotechBSE 3.53 % and

Yathuri Associates.

While the agency has prosecuted these companies on charges of cheating and corruption, it will also share its findings with specialized agencies like SFIO, Income Tax, and Enforcement Directorate among others.

It is alleged that these companies were trading on the exchange platform without having actual possession of commodities, CBI sources said.