Start-Up India Awaits The Arrival Of Unusual Entrepreneur Jignesh Shah

More than two decades ago, Mr. Jignesh Shah, a young innovator founded 63 moons technologies and with his innovative zeal and entrepreneurial aggression, and turned it into one of the finest examples of Make in India, creating 9 robust exchanges across the globe in a variety of asset classes including commodities, currency, equity, energy and bonds in as many years.

However, Jignesh Shah’s growth story disturbed the mental peace of certain monopolistic forces who envied him because his flagship company was beating them hollow in almost all business segments.

Frustrated, these forces joined hands with certain vested interests and their political godfather, then finance minister, P Chidambaram, to form an unholy nexus that created an artificial payment default crisis at one of the subsidiaries—the National Spot Exchange Limited (NSEL) in 2013. By now, the perpetrators of this crisis stand exposed in the public domain and these forces with the revengeful motto, desired not just to halt their progress but to also force Jignesh Shah out of the Exchange businesses completely.

Despite the entire money trail of the NSEL default amount having been traced to the 24 defaulting entities by the investigating agencies, and not a paisa was found with NSEL, FTIL and its founder, Mr. Jignesh Shah, the facts were ignored, he was ridiculed and attacked with vengeance, but, finally, truth has prevailed!

Truth and justice has won a hard-fought battle when, in a historic judgment, the Hon’ble Supreme Court set aside the forced merger of 63 moons with NSEL. It was Chidambaram’s crony Ramesh Abhishek, who as the then chairman of the FMC, had recommended to the government to forcefully merge NSEL with FTIL. The SC verdict has come as a big relief to the entire corporate India.

Jignesh Shah believes that in future, 63 moons, will play the role of a catalyst in mentoring young entrepreneurs so that India generates 10 crore jobs in the markets and industry in the next decade.

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