ED issues second round of summons against accused in the FTIL and MCX case

Sources have told CNBC-TV18 that individuals that were accused in FTIL & MCX insider trading case failed to appear before the enforcement directorate (ED), which has now issued the second round of summons for the thirteen suspects.

The 13 suspects were penalised by the Securities and Exchange Board of India (SEBI) and were asked by the ED to appear before it. The suspects did not appear before the ED and wrote a letter to ED asking why should they be present, and said the case which ED is investigating against NSEL and Jignesh Shah has nothing to do with the penalties which the market regulator has levied on these individuals.

Enforcement Directorate has sought clarification from SEBI on the document after it had penalised these individuals — after getting the required documents it had called these 13 individuals for questioning regarding clarity of certain documents.

Individual refusing to attend before any top investigative agencies for questioning is very rare, but ED has not responded to the letter and had issued them second summons.