The remarkable success Global Presence of Jignesh Shah owned Financial Technologies (India) Limited (FTIL) laid the ground for a never-before-seen economic growth across the world. Known as the ‘Innovator of Modern Financial Markets’, he played an instrumental role in shaping the future of many modern IP-centric financial markets. In Global Presence of Jignesh Shah, he […]
MCX keen on launching trading in equities
MCX is readying for options trading in commodities and currency derivatives. The Multi Commodity Exchange has asked four technology service providers to submit request for proposals, also known as RFPs. Mrugank Paranjape, the Managing Director and CEO of MCX said, “We are exploring the possibility of engaging a new service provider for currency and have […]
FTIL making compromise on opportunity costs
Nevertheless, it is clearly specified in MCA’s application for 396 regarding merger that no money trail is established to either FTIL or its promoters. Yet the kind of actions undertaken regarding FTIL has led to a condition where dire strait is probably an understatement. Undeterred by circumstances Desai expressed his positivity, as he acknowledges such […]
EOW’s order of freezing assets and cash balance of FTIL has no impact on its day-to-day operations, says Prashant Desai
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 […]
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 […]
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 […]
MCA blind-folded towards real defaulters
The forcible merger of NSEL into its promoter, Financial Technologies (India) Ltd (FTIL) has evoked a huge response and quivered the pillars of the prevailing system of administration of justice. The case of FTIL promoting NSEL and being merged together for bearing the latter’s responsibilities, is against the Indian law and order apart from being […]
NSEL crisis : Unveiling the suspects
Talking about NSEL (National Spot Exchange Ltd ) crisis, new twist was given to the case as as the investigators found fresh evidences in the case, which are indicating towards associated companies brokers being the real culprit, who routed the black money. The source of funds, of these believed accused ones, i.e. brokers and various […]
NSEL recovers Rs 1233 crore from 23 traders
National Spot Exchange(NSEL) has recently secured recoveries worth Rs 1,233.02 crore by way of decree on admission against 5 defaulters and through injunctions from a total of 18 defaulters with outstanding of Rs 4,515.93 crore as of December 31, 2015. NSEL has moved another step in the right direction with this and will look forward […]