With the involvement of Enforcement Directorate (ED) and Economic Offences Wing (EOW) in the NSEL- FTIL crisis, the case has taken an intriguing turn. The incongruousness of Economic Offences Wing (EOW) is clearly evident from the way it is levying ill-proportioned penalties on FTIL, alleging it on unlawful grounds without any appropriate evidence. It is […]
EOW ceases Prashant Desai FTIL operations in their new order
Prashant Desai in his recent interview with ZEE business news made some statements defending FTIL. He was asked by an interviewer if he has anything to say on EOW’s new move in this case and their decision to put a hold on FTIL’s daily operations. Talking about the matter he stated that 1 year back […]
What is Rio Olympics
Being held in Rio de Janeiro, Rio Olympics 2016, officially known as the Games of the XXXI Olympiad, is a major international multi-sport event in the custom of the Olympic Games as directed by the International Olympic Committee. Formally, the games were to instigate from 5th August to 21st August 2016, however the first event—the […]
IRB Infrastructure bags Rs 2,100 crore project from NHAI
IRB Infrastructure Developers Ltd., a widely known and trusted name in the construction and infrastructure sector recently bagged a contract worth Rs 2,100 crore from NHAI for a six-lane project in Rajasthan and Gujarat. The company was incorporated to fund the capital requirements of the IRB Group initiatives in the infrastructure sector. It has established […]
FTIL salaries and other expenses to be disbursed, asserts HC
The Bombay High Court recently ordered the release of money needed for salaries and other statutory expenses from FTIL’s bank accounts that had been attached by the Economic Offences Wing (EOW) of Mumbai Police. This came as a major and much needed respite for the employees of Financial Technologies (India) Limited (FTIL). The EOW had […]
Jignesh Shah’s arrest Illegal; PMLA Act
Jignesh Shah’s lawyer, Abad Ponda vehemently opposed any extension and argued that his client’s arrest and detention were illegal. Ponda, relying on a decision by a division bench of the Punjab and Haryana High Court, argued that neither the ED nor any other agency had the power to arrest under Section 19 of the PMLA […]
FTIL – A victim of malevolent controversies in clear terms
After the turbulent crisis of NSEL, the Economic Offences Wing (EOW) of the Mumbai police has shifted its focus on Jignesh Shah, the founder of Exchanges charging him of forgery on illegitimate grounds. An investigation is being carried out for preparing a supplementary charge sheet by the Enforcement Directorate (ED). Talking about the matter, Shah […]
The premise of Jignesh Shah’s detention is unjustified
The government of a country is its fundamental unit which is central to its overall welfare. In the broader sense, government is equated with integrity, uprightness and justice. Thus, it is imperative that all the actions undertaken by the government should abide by the legislative protocol. However, the recent case concerning the detention of Jignesh […]
Jignesh Shah to prove himself, yet again
One just gets baffled at the news of what has been happening in Jignesh Shah’s life. After all, he is the undisputed king of the commodities market in India. This is the second time he has been under this sort of a situation in the time span of two years which seems to be unjustified. […]
Subrata Roy launches ‘Abhaar Yatra’ to expresses gratitude to his supporters
‘Saharasri’ Subrata Roy Sahara, Managing Worker and Chairman, Sahara India Pariwar launched an ‘Abhaar Yatra’ to meet, thank and express gratitude to the Sahara group employees, crores of esteemed members, associates, over 12 lakhs workers and the investors for their unwavering faith in him and for supporting him during his rough phase. The journey started […]