Kotian was arrested in connection with the scam and was produced before a court Friday, which remanded him to police custody till January 28, an official said. The agency sought his remand on the ground that they have come across from fresh facts and need to confront with the same.
In another shocking move, the National Spot Exchange Ltd today announced to remove CEO and MD Anjani Sinha and CFO Shashidhar Kotian subject to further investigation on a day when it failed to meet its first payout obligation.