Mumbai: Embattled businessman Jignesh Shah on Friday denied any violation of insider trading norms following Sebi order against 13 entities, including his relatives, with regard to trading in shares of MCX and erstwhile FTIL even as he alleged "conspiracy" against him.


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On Wednesday, Sebi ordered impounding of "averted losses" worth over Rs 125 crore through alleged insider trading in MCX and its erstwhile promoter FTIL by 13 persons, including relatives of Shah and former top executives, with 'prior information' about the NSEL case.


Shah had served as Chairman and Managing Director of FTIL at the time when the alleged insider trading happened. However, no order has been passed against him directly.


Addressing the media here, Shah said people bought the shares in the companies in compliance with regulations and claimed that information about NSEL "was not unpublished".


Shah is the chairman emeritus of 63 Moons Technologies ,formerly known as FTIL- which was promoted by him.


The National Spot Exchange Ltd (NSEL), promoted by Financial Technologies India Ltd (FTIL), had to suspend trading on July 31, 2013 after a major payment crisis broke out at the bourse.


In its orders, Sebi said its investigations into alleged insider trading in shares of Multi Commodity Exchange of India (MCX) and the erstwhile FTIL found that 13 persons "prima facie" traded in these stocks when in possession of 'unpublished price sensitive information'.


Various probe agencies and regulators are investigating the NSEL fiasco, including the role of Shah and others.


"I stand tall, no agency has found anything against me," Shah said, adding that he decided to address the media after three to four years since now his family members are being targeted.


He also claimed that there was a "conspiracy against us" at the behest of the previous government.


The NSEL scam came to light during the previous UPA regime.


"It is upon 13 individuals to approach the SAT (Securities Appellate Tribunal). 63 Moons' board will decide if the company will support 13 individuals in legal recourse," 63 Moons chairman Venkat Chary said about the Sebi order.