There has been fresh trouble for the founder of Financial Technologies Jignesh Shah. The Mumbai Police has registered a fresh FIR against him and other former directors of Multi Commodity Exchange after NSEL investor Ketan Shah filed a complaint, reports CNBC-TV18’s Prerna Baruah.
The FIR has been registered after Mumbai Metropolitan Magistrates' order. It names FTIL's erstwhile promoter Jignesh Shah, former MCX CEO Joseph Massey, and former MCX chairman Venkat Chary among others.
The FIR alleges that MCX’s key managerial personnel diverted Rs 900 crore from exchange to FTIL and alleges that former board of directors of MCX misappropriated funds by creating bogus documents. It says the MCX board made unfair software charges to FTIL thereby creating loss to shareholders. Mumbai Police has been directed to submit a report on it at the earliest.
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