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The NSEL-FT Forced Merger Is Not About Piercing Limited Liability. It's About Fraud.

Too many articles have come out decrying the order by the Government to merge FT and NSEL. They all quote the same thing – FT was just an investor and ...

Financial Technologies to be Merged With NSEL; End of the FT Saga

The government now merges The National Spot Exchange Limited (NSEL) with its parent, Financial Technologies (FT). NSEL has been involved in a mega scam (see ...

MCX Audit by PWC Shows Lots of Related Party Issues, Sham Trades

The Price Waterhouse Cooper report on MCX insider transactions is pretty damning. It’s at the end of this post, but here’s a quick summary: FTIL, which ...

Jignesh Shah, Chief of FT, Arrested in NSEL Scam

The bigwig of Financial Technologies (FT), Jignesh Shah, has been arrested in connection with the massive Rs. 5,500 cr. scam of the National Spot Exchange ...

SEBI Calls Financial Technologies "Not Fit And Proper" To Promote a Stock Exchange

Finally, the ball has fallen. SEBI has found FT to be not-fit-and-proper to run a stock exchange. In an order yesterday: FT isn’t Fit and Proper to own ...

NSEL Fallout: FT and Jignesh Shah Found Unfit and Improper

Financial Technologies and it’s founder Jignesh Shah, along with two key people (Joseph Massey and Shreekant Javalgekar) have been declared “not fit and ...

NSEL Update: Lots of Attachments, Very Little Real Money Coming Back

After a long time, an update on NSEL. The commodity exchange that was basically a large ponzi scheme has unravelled into what seems to be something where ...

Jignesh Shah Resigns from MCX

So it’s finally started to unravel. Jignesh Shah, the founder of FT which started MCX, has now resigned from the MCX board, after the NSEL debacle. "The ...

NSEL “Settles” with Mohan India, EOW Freezes Jignesh’s Accounts

!A quick update on NSEL: Mohan India has “reached a settlement” with NSEL to pay back Rs. 771 crores out of the Rs. 950 cr. it owes, over the next ...

SEBI was Told About FT Danger in 2007, NSEL Investors Being Probed Too

The Finance Ministry had noted, in 2007, that Financial Technologies, the owner of the defaulted NSEL, was potential not fit-and-proper for running a stock ...