Jignesh Shah Sees Good Potential In Start-Up Ecosystem. Water Conservation’ Is Top On Jignesh Shah's Mind. On Independence Day this year, Prime Minister Narendra Modi had devoted a good part of his speech on the issue of water conservation and had said a campaign for this cause should not just remain a government initiative but become a people’s movement.
First-generation entrepreneur and fin-tech maverick, Jignesh Shah, is very much keen on getting such ecosystems executed by roping in bright young minds while playing the role of a catalyst and an enabler himself. Jignesh Shah feels that this should neither be projected just as a social cause nor forced like a CSR activity. It should rather be a wise socio-business initiative that can self-sustain itself generating value for the nation.
Regarding water conservation, Shah feels, an innovative plan can be put in place to make it an attractive proposition, which will serve a cause and yet be commercially viable with the right product mix. Start-Up Ecosystem Has More Potential Says Jignesh Shah. By Ankita Sehgal Freelance Blogger, Lives in New Delhi After setting up 10 exchanges across six continents in a span of ten years, engineer-turned-financial market wizard Jignesh Shah now sees 100-times bigger business potential in a 'startup ecosystem' and which he feels can create up to 10 crore jobs over the next decade.
While one of his flagship exchanges, MCX (Multi-Commodity Exchange), had become the world’s second-largest commodity bourse under his leadership and all other group exchanges were also doing well before his exit, Shah said he does not want to bask in his past glory and the time is no longer right for a business model focused on exchanges. “I am rather thinking about ecosystems as they make much more sense in today’s digitally-connected borderless world and I see myself creating and innovating products and businesses for the masses as a coach and as a mentor,” he said.
Jignesh Shah’s Second Innings Will Focus On Start-Up Ecosystem. Mr.
Jignesh Shah, often acknowledged as the ‘Innovator of Modern Financial Markets,’ is known to lead from the front. The tech visionary is all set to start his new innings, as lies after lies are getting nailed in the courts. Although it was proved by all investigative agencies including the EOW, Mumbai, that no money trail was ever traced to him or his companies, NSEL and FTIL, but to the 24 defaulters, he was still blamed for the default and painted in the dark.
However, since most actions were taken against him and his companies are being quashed by the judiciary, Shah is now ready for his second innings. Talking about his future plans, Jignesh Shah said in a recent interview that this time he wants to focus on the start-up ecosystem since he believes that the startup ecosystem wouldn’t be restricted to any exchange or marketplace at all. Market Update: The Shah With Unending Spirit. In a short span of time, entrepreneur/innovator Jignesh Shah’s flagship company, 63 moons technologies limited has made a mark and has been named as one of the most powerful and influential companies in biz-tech innovations.
A global leader in providing next generation technology innovations, platform and solutions for digital markets and marketplaces, the entry of 63 moons into the exchange space brought competition that benefited the stakeholders enormously. This success, however, was not taken in a positive stride by his competitors who led a one-sided war and persecution, in which 63 moons and its founder were held responsible. For the last six years, the market regulator and the investigating agencies refused to look at the National Spot Exchange Limited (NSEL) crisis from a 360 degrees perspective. However, all the lies are being nailed one after the other with the recent court orders. Jignesh Shah For Scaling Up Of Start-Ups To Generate 10 Crore Jobs. In His Next Role, Mentoring Socio-Fiscal Causes Top On Jignesh Shah’s Mind. Gearing up for his second innings, embattled entrepreneur Jignesh Shah feels there is a great opportunity in setting up digital ecosystems for helping social sector enterprises raise funds and for products aimed at promoting water conservation.
“There is an urgent need to further these causes, but my idea is to do them in such a manner that it is commercially viable for all stakeholders rather than making them look like charity work or something that has been forcefully imposed. Given the conducive political environment in place today, I want to help create these ecosystems as a mentor,” Jignesh Shah has said in recent interviews.The comments assume significance in the wake of water conservation being one of the top priorities for the Modi government, while it has also proposed an idea of setting up ‘social stock exchanges’ to help social sector organizations raise funds.
Jignesh Shah Sees 100 Times Bigger Opportunities In Start-Up Ecosystem. Articles by Ankita Sehgal Freelance Blogger, Lives in New Delhi In a span of ten years, engineer-turned-financial market wizard Jignesh Shah has already set up 10 exchanges across six continents and now Shah sees 100-times bigger business potential in a ‘startup ecosystem’.
He feels startup ecosystem can create up to 10 crore jobs over the next decade. Market Update: Jignesh Shah’s Inspirational Tale Of Truth And Justice. India’s ace innovator and entrepreneur Jignesh Shah, who has been fighting since past six years for justice in NSEL payment default crisis, says he is truly committed to "rise like Japan did after the bombings of Hiroshima and Nagasaki".
Jignesh Shah was quoted as saying this in the backdrop of the Bombay High Court judgment that the NSEL is not a financial establishment and hence notifications for attachment of the company's assets, including bank accounts and properties stand quashed. A Rs 5,600-crore payment crisis hit NSEL in July 2013, which was strategically created by his rivals, backed by then union finance minister, P Chidambaram, who is in Tihar jail now on corruption charges in the INX Media case. Jignesh Shah To Promote 10 Crore Job Creation In India. Inspiring Journey And New Innings For Ace Innovator Jignesh Shah. After setting up 14 exchanges across six continents in a span of ten years, engineer-turned-financial market wizard Jignesh S hah now sees 100-times bigger business potential in a ‘startup ecosystem’ and which he feels can create up to 10 crore jobs over the next decade.
Jignesh Shah was forced out of all SEBI regulated businesses under regulatory orders amid a multi-agency probe after a payment default crisis of Rs 5,600 crore in 2013 at his smallest venture National Spot Exchange Ltd (NSEL).Shah, however, said he is confident now that the time has come to start his second innings as court orders are absolving him of all the charges one after another as no agency could prove even a single paisa of wrongdoing on his part, nor on part of his companies.
However, this time he wants to focus on a mentoring role and help youngsters with innovative ideas and to live their entrepreneurship dreams by providing them a platform for globalization and scaling up of their ventures. Jignesh Shah wants PM Modi to probe Chidambaram. Articles by Ankita Sehgal Freelance Blogger, Lives in New Delhi Sharp-witted Jignesh Shah, who decided to carve his own path and gave India its first global exchange empire, was targeted by certain vested interests in the then UPA government, particularly by then Finance Minister P.
Chidambaram, who wanted to destroy his company to protect the interests of his pet exchange, the National Stock Exchange (NSE). The former Union Minister for Finance was responsible for the NSEL payment default crisis worth Rs 5,600 crore and he ensured through some of his trusted bureaucrats to keep the payments crisis alive, rather than allowing it to get settled.
Market Update: Financial Market Wizard Jignesh Shah Keen On ‘Startup’ Prime Minister Narendra Modi had kickstarted the ‘Startup India’ initiative with a clear objective of creating more job opportunities in the emerging Indian economy and with a vision to create more wealth in the hands of stakeholders.
‘Startup India’ was introduced to capture the imagination of young Indians, inspiring many to dream of being an entrepreneur. Unfortunately, this initiative was not given the desired impetus by the officers in charge during the previous regime. However, the things seem to have changed for the better in Modi 2.0 With Mr Modi’s competent leadership and strong vision, engineer-turned-financial market expert, Jignesh Shah, feels positive that India can achieve a lot in the start-up ecosystem. Start-up Industry has a lot of potential, but it will be able to see long term success, if the first-generation entrepreneurs like, Jignesh Shah is able to provide the desired impetus and momentum to this industry with his robust leadership.
After 6 Years Of Legal Battle, Jignesh Shah Flies High. Jignesh Shah’s Dream To Make India As ‘Silicon Valley Of The East’ The job scene in India is getting worse by the day. The recent Reserve Bank of India’s monthly consumer confidence survey shows deep pessimism about the employment situation among Indian households.
No doubt, India needs more impetus in the form of better infrastructure and optimal domestic regulatory environment for improving the employment opportunities in India. At a time when innovators across the world were turning towardse-commerce, a young tech entrepreneur in India was gearing up to take the exchange markets sector by storm. With his vision set on various tech-based innovations, he created 10 lakhs job opportunities in a very short span of time. Jignesh Shah, currently chairman emeritus, 63 moons, through his sustained innovation successfully transformed the face of the Indian financial markets, and now in his second innings, wishes to create another big story so that it could produce huge employment opportunities in India.
Jignesh Shah All Set For Second Innings. Articles by Ankita Sehgal Freelance Blogger, Lives in New Delhi 63 moons technologies limited has been named as one of the most powerful and influential companies under the leadership of its founder Jignesh Shah in quite a short span of time. A global leader in providing next generation technology innovations, platform and solutions for digital markets and marketplaces, the entry of 63 moons into the exchange space brought competition that benefited the Indian markets enormously. Market Update: Jignesh Shah: He Came, He Saw, He Conquered! An engineering graduate from Mumbai University, joined the BSE, where he worked on designing and implementing the exchange’s online trading system-BOLT. What pained him the most was that the Indian stock markets were not keen on modernizing or trade on sleek, imported terminals? He was none other but the one who is being popularly known as ‘India’s Exchange Man’- Jignesh Shah.
However, the system was resistant to change and hence, Jignesh Shah quit BSE and set up his own company FTIL, now known as 63 moons technologies limited, to provide technology solutions and domain expertise to financial markets across all asset classes. Jignesh Shah: The Innovator And A True Leader Is Springing Back. Rebirth Of India’s Exchange Man- Jignesh Shah - Reena Roy - Medium. After setting up 14 exchange companies across six continents in a span of just ten years, engineer-turned-financial market wizard Jignesh Shah, founder of 63 moons technologies Group (FTIL) created a vast expanse of ecosystem ventures to support the tech market. It was more than a decade ago that Jignesh Shah had taken the markets by storm with his various mind-blowing tech-innovations.
After a payment default at his venture, National Spot Exchange Ltd (NSEL) in 2013, the road ahead was not easy for Jignesh Shah. The 52-year-old businessman was forced out of all his exchanges and related businesses in the aftermath of the NSEL crisis and declared not fit and proper on the basis of an ill advice to the then government by the then commodity regulator FMC. Despite, the courts and the probe agencies clearly tracing the entire default money with the 24 defaulters, not a single action has been taken against them or the big brokers who perpetrated the crisis to avoid action for their misdeeds. Jignesh Shah: The Man Who Survived All Odds.
Articles by Ankita Sehgal Freelance Blogger, Lives in New Delhi Mr Jignesh Shah, founder and currently chairman emeritus, 63 moons technologies limited, went beyond the traditional market structure to set up world-class trading systems in India through his path-breaking innovations. Thus, 63 moons became the only Indian company to establish electronic silk and spice routes across continents right from Africa, to Middle-East, to South-East Asia.
Bestowed with the title of Innovator of Modern Financial Markets, Mr. Market Update: Jignesh Shah: The Man Who Rose Like A Phoneix. From being a rookie engineer to a billionaire even before he hit the age of 40 years, tech innovator, Mr Jignesh Shah, has been great motivation to a number of youth in India and outside. Jignesh Shah’s Second Innings To Fire Up 1 Crore Jobs In Start Up India. Tech Visionary Jignesh Shah To Storm Start Up Ecosystem. Jignesh Shah: Time To Take Start Up Industry By Storm. Articles by Ankita Sehgal Freelance Blogger, Lives in New Delhi. Jignesh Shah sees 100-times biggest potential in startup ecosystem - Business News. 63 moons wins MPID case in Bombay High Court, big win for Jignesh Shah. The Bombay High Court has ruled that the National Spot Exchange Ltd (NSEL) is not a financial establishment and hence notifications for attachment of the company's assets including bank accounts and properties under the Maharashtra Protection of Interest of Depositors (MPID) Act stand quashed.
The competent authority requested for a stay but the court declined. It has quashed all the notifications issued by the state government in 2016 and 2018 attaching movable and immovable properties of 63 moons under the MPID Act 1999 by observing that NSEL is not a financial establishment since it did not accept any deposits as defined under the MPID Act.
Resultantly, the petitioner who is a promoter of the said establishment cannot be proceeded under the provisions of MPID Act. The court held that NSEL was a commodities exchange where commodities were traded between willing buyers and sellers acting through their brokers. Committed to rise like Japan after World War: Jignesh Shah after winning the asset embargo case. Mumbai, August 22 () Enthused by an order from the Bombay High Court that overturned the seizure of the assets of its flagship firm 63 Moon technologies in the NSEL case, businessman Jignesh Shah said Thursday that all lies are being nailing one after another through court orders and he is committed to rise as Japan did after Hiroshima and Nagasaki. The court ruled that National Spot Exchange Ltd (NSEL) is not a financial establishment and, therefore, notices of seizure of company assets, including bank accounts and property, under the MPID Act (Maharashtra Protection of interests of depositors in financial establishments) canceled.
Depositors’ law not applicable to NSEL: Bombay High Court. The Bombay High Court on Thursday quashed the attachment of bank accounts and properties belonging to 63 moons technologies (formally Financial Technologies) and its promoter Jignesh Shah under the Maharashtra Protection of Interest of Depositors (MPID) Act. In all, assets worth around ₹8,500 crore were attached by police under MPID, which will have to be released now. The HC rejected the application of MPID in the case involving the ₹5,500-crore NSEL payments fiasco of 2013. Committed to rise like post-World War Japan: Jignesh Shah after winning asset attachment case. Jignesh Shah ‘Committed To Rise Like Post-World War Japan’ After Winning Asset Attachment Case. Committed to rise like post-World War Japan: Jignesh Shah after winning asset attachment case. Bombay HC holds that NSEL is not financial establishment and MPID Act not applicable to it.
MUMBAI: In a victory for 63 Moons Technologies Limited, formerly known as Financial Technologies (India) Ltd, and its group CEO Jignesh Shah in the Rs 5,600 crore National Spot Exchange Ltd (NSEL) scam case the Bombay high court on Thursday held that it is not a financial institution and hence notifications for attachment of the company's assets including bank accounts and properties, under Maharashtra Protection of Interest of Depositors (MPID), stand quashed.
Sued By Firm For 10,000 Crores, P Chidambaram Seeks Documents Of Lawsuit.