What was the role of FMC in precipitating the NSEL Crisis?

The crisis at NSEL was triggered due to regulatory issues. The Forward Markets Commission, which regulates the commodity exchanges in India, disowned the regulation of the spot exchange saying that it is not under its purview, while, the Department of Consumer Affairs, Government of India through various notifications entrusted the FMC with regulation of spot exchanges…

A Big Conspiracy against Jignesh Shah

Jignesh Shah, founder of Multi Commodity Exchange (MCX), the nation’s biggest commodity trading platform, built up 10 gigantic institutions such as (MCX-SX), India Energy Exchange (IEX), National Spot Exchange Limited (NSEL), and global exchanges such as Singapore Mercantile Exchange (SMX), Dubai Gold and Commodity Exchanges (DGCX), Bahrain Financial Exchange (BFX), Global Board of Trade- Mauritius (GBoT)…

Ok MDM Forced Merger : An Assault on 63 Moons

In October 2014, the Ministry of Corporate Affairs had issued a draft order to merge NSEL with its parent firm 63 moons to ensure faster recovery of dues for entities hit by the Rs 5,600-crore fraud. The years of scrutiny on Jignesh Shah and his company 63 Moons, formerly known as Financial Technologies Limited (FTIL), has capitulated little…

63 moons’ unmatched pursuit for excellence

63 moons is the world’s largest creator of greenfield exchanges east of Suez and put India on the global map of exchanges. It is a game changer in trading in financial markets, spreading the reach and intensity of stock trading in India. Its product is also endorsed by competitors The Group has been facing intense…

Things you did not know about Jignesh Shah

Jignesh Shah is a household name for all those who dabble in the financial markets. His biggest contribution to the Indian markets is the launch of Multi Commodity Exchange (MCX). The man himself stands tall around a few solid achievements saddled to his name. Shah is known to have created international exchanges for stocks and…