It’s been three years that NSEL payment crisis shook the corporate world, but the issue remains at the center of the multi-agency probe and web of legal actions. The vindictive approach and the misuse of the power by the investigative agencies have only made the crisis complex and life tougher for Shah.
Jignesh Shah, who set up 63 moons technologies Ltd (formerly known as Financial Technologies India Limited (FTIL) in 1988, launched a series of stock exchanges under its guidance in the previous decade, including MCX, a multi-commodity bourse which has developed as India’s only listed exchange. (It was set up in 2002 and listed on the Bombay Stock Exchange, or BSE, in 2012.) As 63 moons, the holding company which also provides financial markets software to brokers and other market participants became successful, Shah’s determinations took him beyond Indian shores. In the space of a few years, he set up exchanges in Singapore, Bahrain, Dubai (UAE), Mauritius and Botswana as well as a financial market content provider, TickerPlant. And soon he became an exchange visionary in the world of exchange and trading.
The story of Shah’s life is one fable that has inspired many new generation entrepreneurs to follow his footsteps. Jignesh shah started his career working for Bombay Stock Exchange as an assistant manager and reached a noteworthy milestone when he incorporated Financial Technologies Company in the summer of 1988. Shah’s success has been credited to his smart observations to spot gaps and commitment to transform the exchange operations in India. He preferred to take the road less traveled, and started the company with an aim of automation in finance. He realized the potential of finance automation and made a substantial contribution to “Make in India” initiative, long before it became famous.
Since its commencement, both Jignesh Shah and his company have exceeded to be giants and redefined all standards in the trading industry. But success comes for those who fail first but never give up. Shah has been one strong-minded entrepreneur who mortgaged his house to commence his company which is now the face of Indian Exchange Markets. He has and he will continue to reshape the markets with his innovation.
His featuring as the ‘Young Global Leader of 2007’ attests his significant role in economic and social development in India as well the global financial market.
Hope the truth prevails!
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