The Income Tax (I-T) department is leaving no stone unturned while investigating the NSEL fiasco. It started investigating warehouses two weeks back and now has sought details from top brokers including Anand Rathi, IIFL and Motilal Oswal on the prop investments in NSEL, reports CNBC-TV18’s Aastha Maheshwari
These top 10 brokers account for around Rs 3500 crore investment via 800-1000 HNIs. The department has sought details from around 16 brokers all across the country. Anand Rathi has an exposure of around Rs 629 crore, IIFL around Rs 326 crore and Motilal Oswal around Rs 263 crore.
Anand Rathi has confirmed that about these investigations and that there were dialogues with the I-T department. Although it is saying that at that point of time there were no prop investments made by Anand Rathi particularly in NSEL. The department is seeking details on what is the amount of money that has been accounted for and if there has been some amount of unaccounted money which has been siphoned off.