NSEL targeted despite full cooperation to Government

Soon after the NSEL crisis in July 2013, the senior management of NSEL had meetings with the MAC appointed by the FMC on a weekly/fortnightly basis. These were structured meetings with minutes and action is taken reports. In all, 25 committee meetings took place, between October 9, 2013, and August 8, 2014, wherein 246 agenda…

Illegal Arrest – Section 50 of PMLA Act 2002

The Enforcement Directorate had arrested Jignesh Shah on 12th July 2016 under Section 50 of the Prevention of Money Laundering Act, 2002 (PMLA). The entire approach of ED in summoning the accused is in violation of Section 50 of the PMLA. All the persons so summoned shall be bound to attend in person or through authorized…

SEBI initiates action against Defaulters

As a big positive step towards bettering the financial health of the country, Finance ministry, SEBI and Reserve Bank of India have joined hands to punish defaulters behind various scams that disrupt our nation’s economic growth. It’s a great warning sign for financial defaulters. Jignesh Shah, The matter is not about thousands of crores; hundreds…

Never ending atrocities on Jignesh Shah

The success and fame of Jignesh Shah somehow did not go well with many of who’s who of the political world. Also known as the Exchange Man of India, Jignesh Shah has earned respect in the stock exchange market for his revolutionary ideas. Once known as the poster boy of India, the self-made entrepreneur is…