Millennium Post

ED attaches FTIL's mutual funds worth `307 crore

The Enforcement Directorate, Mumbai, has attached Rs 306.70 crore worth assets belonging to Jignesh Shah-promoted Financial Technologies India Ltd (FTIL). 

In a filing to the BSE, FTIL said: "The company has received a provisional attachment Order from the Directorate of Enforcement, Mumbai, attaching mutual funds amounting to Rs 306.70 crores."

The company is taking appropriate steps in consultation with its legal counsel, it added. Earlier this week, CBI arrested FTIL promoter Jignesh Shah in a case of alleged cheating and suppression of facts in getting SEBI extension to MCX-SX to continue as a private stock exchange in violation of norms.

FTIL is in crisis following the Rs 5,600 crore payment default at its subsidiary National Spot Exchange Ltd (NSEL) in August 2013 affecting 13,000 investors.
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