Claiming innocence, former head of the National Spot Exchange Limited (NSEL) Anjani Sinha, held in the Rs 5,600 crore (Rs 56 billion) payment crisis, on said that he was acting under the board's pressure, sources said.
The Economic Offences Wing (EOW) of Mumbai police produced Sinha before local court today which remanded him in police custody till October 31.
Reacting to Sinha's allegations against board members including promoter Jignesh Shah and senior group executive Joseph Massey, a NSEL spokesperson said, "Charges should not be taken at face value."
During the interrogation, Sinha stated that his actions may have led to the present crisis, but he was acting under pressure.
"He has submitted an affidavit before us but it will not have any evidential value. He did not name anybody in his affidavit," an investigating officer of EOW said.
"However, during the interrogation he shifted the blame on to the board of NSEL, saying whatever he has done was under duress," the officer said, adding, "We are cross-checking his revelations with whatever had come out during the interrogation of Mukherjee and Bahukhundi.
"Our auditors are also verifying the books of accounts of various defaulters to figure out how much they owe to NSEL and vice versa," the officer said.
Meanwhile, the court extended police custody of the other two - former AVP Amit Mukherjee and former AVP in-charge of the KYC department Jay Bahukhundi - arrested in the case, till October 23, police said.