Scam in NSEL mess: Kirit Somaiya

MUMBAI: Alleging a scam in NSEL mess, former BJP MP KiritSomaiya today accused the UPA government of "covering" it up.

"The National Spot Exchange vayda bazar scam is parallel to Harshad Mehta's forged receipt scam of 1992-93", he told a press conference.

"Thousands of crore of Rupees have been siphoned off from the system of NSEL, which belonged to small investors and farmers. This money was transferred to some foreign countries," he alleged further claming that his sources from the government informed him that when they went to inspect the warehouses, they were found empty.

"There are over a dozen of fraudulent brokers involved in the scam. Criminal proceedings should be conducted in this scam", he said.