PMLA court extends judicial custody of Jignesh Shah till August 1

The Prevention of Money Laundering Act (PMLA) court on Monday extended the judicial custody of Financial Technologies India Ltd's (FTIL) founder and chairman Jignesh Shah in nearly Rs 5,600 crore NSEL scam case till August 1.

Shah was arrested by the Enforcement Directorate (ED) on July 12 this year for non-cooperation with the investigation agencies and was produced before the PMLA court on July 13 in Mumbai, ANI reported.

The special PMLA court had then decided to sent Shah to police custody till July 18.

Add Zee Business as a Preferred Source

The ED had filed its first chargesheet in the National Spot Exchange Ltd (NSEL) scam in April 2015, Livemint reported on July 12.

In the chargesheet, the ED had allegedly uncovered a criminal conspiracy that led to the Rs 5,574.35 crore scam at NSEL, which was 99.99% owned by FTIL, the news report said.