The ED, which had launched a money laundering probe into the NSEL scam, arrested Shah late on Tuesday evening for allegedly not cooperating with investigations. Shah will remain in Enforcement Directorate’s (ED) custody till 18 July, when the matter would be heard next. This is the second time Shah has been arrested in connection with the NSEL scam. ED, a specialized financial investigation agency under the ministry of finance, has found evidence of money laundering against Shah under the Prevention of Money Laundering Act, 2002 (PMLA), ED officials said. FTIL founder Jignesh Shah was arrested by ED on Tuesday for allegedly not cooperating with the investigationThe ED had registered a criminal case against Jignesh Shah under PMLA in 2013.

Source: Mint July 13, 2016 14:54 UTC