Mumbai Police have arrested former chief financial officer of NSEL, Shashidhar Kotian in connection with the Rs 5,600 crore now-shuttered commodities spot exchange scam, a senior Economic Offences Wing (EOW) official has said.

Kotian was produced before a court on Friday, which remanded him to police custody till January 28, the official said. The agency sought his remand on the ground that they have come across from fresh facts and need to confront with the same.