Kolkata, Oct 23: The senior Vice-President of the Stock Holding Corporation of India Limited, K S Murthy, was today interrogated in connection with last year's Rs 120 crore scam at CSE as a number of raids were conducted to arrest the alleged key conspirator and absconding broker, Dinesh Kumar Singhania. The police said that Murthy was in charge of the Shcil's 'sell-n-cash' scheme during the period when the scam took place as some brokers took advantage of the scheme to dupe not only the CSE, but Indusind Bank as well as Shcil.
"Murthy was the all-India head of the 'sell-n-cash' scheme and he had issued such a letter to indusind bank on march five last year in favour of some of the brokers for which he did not have the authority," police sources said.
Meanwhile, several raids were today conducted in and around Kolkata to arrest former CSE president and accused Dinesh Kumar Singhania, wanted by the police over the past few days.
"Raids were conducted at four to five places, including some offices, where Singhania could have taken shelter," the sources said.


Bureau Report