MUMBAI, Oct 17 (Reuters) - The former chief executive of
Indian commodities bourse National Spot Exchange Ltd (NSEL) was
arrested on Thursday, a senior police official said, without
specifying whether any charges were being pressed against him.
NSEL's former managing director and CEO Anjani Sinha was
removed from his position by the bourse's board in August amid
regulatory scrutiny after the bourse abruptly stopped payments
to settle outstanding trades to investors.
The Mumbai police's additional commissioner in charge of the
economic offences wing (EOW), Rajvardhan Sinha, said by
telephone that Anjani Sinha had been arrested, but declined to
provide further details.
NSEL, owned by Financial Technologies (India) Ltd,
has been under investigation by the EOW since last month after
India's commodities regulator ordered it to suspend trading over
suspected violations of rules on contract duration.
NSEL has said it followed all existing rules.
Since the trading suspension, NSEL has struggled to settle
outstanding contracts worth more than 55 billion rupees ($889
Anjani Sinha could not immediately be reached.
A spokesman for NSEL and Financial Technologies declined to
($1 = 61.8625 Indian rupees)
(Reporting by Himank Sharma and Siddesh Mayenkar; Editing by