NSEL scam: Jignesh Shah remanded in ED custody till July 18

A Mumbai court has remanded FTIL founder Jignesh Shah to Enforcement Directorate (ED) custody till Monday in the 5,600-crore rupees National Spot Exchange Limited scam.

ED arrested Jignesh Shah yesterday, under the Prevention of Money Laundering Act. ED argued



that new material had come to light indicating that Mr. Shah indulged in money laundering; adding that it intends to file a fresh case. The court rejected Shah's view that investigation in the case was over and the facts which may have come to light are not new.