Strong-Willed Jignesh Shah Rises Above All Challenges

Mr. Jignesh Shah who is known as a young innovator and entrepreneur, founded 63 moons technologies over two decades ago, a company that was earlier known as Financial Technologies. With his innovative zeal and entrepreneurial aggression, he 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. 

This MAKE IN INDIA story of Jignesh Shah which was much ahead of times was looked upon as a threat by certain vested interests who in turn form an unholy nexus and created an artificial payment default crisis at one of the subsidiaries of 63 moons—the National Spot Exchange Limited (NSEL) in 2013. After lot of probe, it was found that the entire money trail of the default amount was traced to the 24 defaulting entities and not a paisa was found with NSEL, FTIL and its founder, Mr. Jignesh Shah. Unfortunately, all these facts were ignored, and Jignesh Shah’s empire was attacked with vengeance.

Despite being targeted singularly, Jignesh Shah is emerging victorious as he strongly believes that truth ultimately prevails! The Hon’ble Supreme Court set aside the forced merger of 63 moons with NSEL on 30th April 2019 i.e. almost after 6 years of NSEL crisis. While pronouncing the judgment, the Apex Court laid down the precise definition and the elaborate criterion for what constitutes ‘public interest’ ruling that there was no public interest in the merger order.

And, just few months after this huge victory, a big relief came in the form of another landmark judgment where 63 moons won MPID case in Bombay High Court on August 22, 2019. The Bombay High Court stated that NSEL is not a financial establishment and hence notifications for attachment of the company’s assets including bank accounts and properties under the MPID Act stand quashed.

Jignesh Shah has always maintained utmost faith in the Indian Judiciary and has always fully complied with all investigative agencies and strongly believes that truth prevails and triumphs.