NSEL Scam: Maha govt forms taskforce to review probe into Rs 5,600-crore fraud

Mumbai: Maharashtra government has formed a taskforce to review and coordinate the ongoing probe into Rs 5,600-crore National Spot Exchange Limited (NSEL) scam in which 13,000 investors lost their money.The taskforce will be headed by Sales Tax Commissioner Rajiv Jalota, while state Excise Commissioner V Radha and Joint Police Commissioner (EOW) Pravin Salunkhe will be members of this team, a government resolution issued in this regard said.[caption id="attachment_3137912" align="alignleft" width="380"]

NSE building. PTI[/caption]Additional Commissioner of Police (crime) K M M Prasanna is "invitee" on the taskforce. Similarly, legal officer in Mumbai police commissionerate is also part of the team to provide legal advice from time-to-time, says the GR. The probe into the financial fraud is headed by DCP Jaykumar of the economic offences wing (EOW).A Home Department official said the state government's decision to set up the taskforce is to coordinate between the probe team and the special team of secretaries in the Union Finance Ministry overseeing the investigations into the scam.The taskforce will meet every fortnight in the first three months and later every month. It has been entrusted the task of preparing an action plan on protecting investors interests and how their money can be returned to them.The force will report to the Additional Chief Secretary (Home) and submit details of the meetings. Joint CP (EOW) will be the nodal officer to coordinate between the state government and the central agencies like Sebi, Enforcement Directorate.