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CBI arrests FTIL, MCX promoter Jignesh Shah


CBI arrests FTIL, MCX promoter Jignesh Shah

Zee Media Bureau

New Delhi: CBI arrested Jignesh Shah, promoter of FTIL and MCX Ltd on Tuesday, and carried out search operations at nine locations including his residence.

Shah has been arrested in MCX SX licence grant case. As per reports, he was being questioned by CBI in his residence since morning.

Among the locations where raids were conducted included MSEI or the erstwhile MCX Stock Exchange and in property of three SEBI officials. As per The Economic Times, CBI alleges that these officials connived with FTIL and its promoters for renewal of license in 2009-10 to carry out currency futures trading without conforming to the regulatory norm on promoters' shareholding. 

Shah was released on bail on August 7 by a special court in a matter related to Rs 5,600 crore National Spot Exchange Limited (NSEL) scam.

He was arrested by the Enforcement Directorate on July 12 under section 19 of Prevention of Money Laundering Act (PMLA 

The agency had filed a 20,000-page charge sheet against NSEL and 67 others in a Mumbai court in March 2015, alleging NSEL funds were laundered and illegally used to purchase private properties.

The charge sheet had listed money trail amounting to Rs 3,721.22 crore 

 

 

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