Mumbai: The sessions court here on Thursday extended the police custody of the Financial Technologies and Multi Commodities Exchange (MCX) promoter Jignesh Shah and former managing director and chief executive of the commodity exchange Shreekant Javalgekar till May 19.

The Economic Offences Wing of Mumbai police told the court on Thursday that Shah knew about several aspects of the conspiracy. The agency also said that NSEL was a guarantor for the trading on its platform and had assured traders that if they lost money, they would be reimbursed. Defence lawyers sought to put the blame on another accused and former NSEL CEO Anjani Sinha, saying that he was in charge of day-to-day affairs while Shah was a non-executive director. But the judge D P Surana granted the agency’s plea for further custody.

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