Conspiracy against Jignesh Shah and FTIL?

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Jignesh Shah, FTIL

Jignesh Shah led Financial Technologies India Limited(FTIL) had the distinction of perhaps the fastest growing financial infrastructure group with exchanges spread across multiple geographies.  It stood the scrutiny of stringent regulation of major international financial centers in which the group established exchanges. In a short time of less than a decade, it made Indian exchanges stand among the top league of global exchanges. The innovations made by FTIL have become case studies for authorities planning similar development endeavors and strategies in several other emerging markets.

All this was wasted by certain people working for narrow interests, waiting for an accident to happen that they could turn into a major crisis and take this as an opportunity to launch a massive assault against Financial Technologies Group. An accident that happened at NSEL, arising from sudden stoppage of further issuance of certain commodity trading contracts by the regulatory authorities, that were made popular by brokers for their sophisticated and well informed traders and clients. In a similar situation anywhere in the world, regulatory institutions extend support including temporary liquidity provision as may be required to overcome the crisis. Whereas in the case of NSEL/FTIL, it was like vengeance unleashed by certain officials with rash actions and harsh punishments, when the investigations were still going on and certain key issues were under consideration of the courts.

Nobody benefited from this except only the egos of a couple of officials who were keen to destroy the group. But the claims of traders and clients remain unsettled. The recovery efforts are solely left with NSEL to deal with. Thousands of people who were depending on the group directly or indirectly lost jobs and incomes.

India really cannot afford officials who undermine national interest. It is time to reflect on what the country needs, who can deliver it and how certain people can make it vulnerable. And also how to protect Indian financial system from vested interests.

 

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Sameer Sharma

Sameer Sharma

Keeps a close eye on whats trending in the market.Have an unquenchable thirst of knowledge, travelling, music, books and love to play free online card games such as Rummy, Poker
  • Ramanand

    It is true that no one benefitted with this except the egos of a couple of officials who were keen to destroy to group. As because no confirmation of this massive assault confronted.

  • Sonu mittal

    This is a misleading news to bruise an honest man Mr. Jignesh Shah who has distinction of fastest growing insfrastructure group across the India. This clearly affects to those who were depended on this group.

  • Vijay Shah

    Facing a barrage of problems on several fronts, scam-hit NSEL has launched a massive media outreach explaining the circumstances leading to the Rs 5,600 crore payment crisis as well as how it had been “singled out” and no action taken against real culprits.

  • Ritesh

    Jignesh Shah is facing a colossal crisis..i hope he will put his tooth and nail to abolish this stigma.

  • Roshan prakash

    Feeling so bad for the Jignesh Shah I don’t have any call in question on his honesty but as I read this article even unable to believe my eyes that he could do so.. I was unaware, but as far as the statement shows that the allegations are still to be proved. So I am just waiting for that moment when it will revealed clearly.

  • Vicky Goyal

    The charge-sheet which has been filed against Jignesh shah, CBI need to bring all documentation beside the court so that the recrimination could be brought in light.

  • Shailesh Verma

    Someone delibrately under the cover of his high position attaining wrong terms in adverse to a go- getter person.

  • Pankaj222

    FTIL is a leading organization led by Jignesh Shah(managing director). He is serving its financial services since ages. Now someone is trying to play a huge conspiracy against his impeccable services.its totally ungair with him.