“It was revealed that funds obtained from NSEL were diverted for the purposes other than the purpose for which they were obtained raising the suspicion that the said amounts were laundered by MS Mohan India group,” the ED said in its report.
The agency has also relied on a report of the I-T department against the firm that said that the “godowns which were declared to NSEL (by the firm) as designated warehouse had no capacity to store the quantity of sugar traded by them (Mohan India and others) on the NSEL platform.”
The ED has said that its probe in this case is “still in infancy at this stage” and further investigation is on.
The Rs. 5,600-crore payment crisis at NSEL and the alleged scam is being probed by different agencies like the Mumbai Economic Offences Wing and the Income Tax department.
