Committed to rise like post-World War Japan: Jignesh Shah after winning asset attachment case

By: Jignesh Shah
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* Jignesh Shah

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* Mumbai - Maharashtra - India

MUMBAI, India - Aug. 27, 2019 - PRLog -- Mumbai, Aug 22 () Enthused by a Bombay High Court order quashing attachment of assets of his flagship firm 63 moons technologies in the NSEL case, embattled businessman Jignesh Shah on Thursday said all lies are being nailed one after another through court orders and he is committed to "rise like Japan did after Hiroshima and Nagasaki". The 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 MPID (Maharashtra Protection of Interests of Depositors in Financial Establishments) Act stand quashed.

Shah, mentor and chairman of 63 moons technologies, said the court's judgment is a signature of God in the current trend of developments where truth is winning and all kinds of lies are getting nailed.

"From day one, I and my 63 moons, have maintained utmost faith in the Indian judiciary and we have fully complied with all investigative agencies and the courts and, will continue to do so. I want to reiterate that truth prevails and triumphs! "I thank all our well-wishers, shareholders and stakeholders for standing by us and, we are committed to rise like Japan as it did after the bombings of Hiroshima and Nagasaki," he said in a statement.

According to Shah, he got back his personal liberty on August 22, 2014 with the court ruling that there was no money trail to NSEL, FTIL or him. Financial Technologies (India) Ltd was renamed as 63 moons.

"Exactly 5 years later, 63 moons, the company I founded, has got economic liberty from the attachment under MPID Act.

"What is even more significant about this timing is that, the creator of the political conspiracy who illegally applied forced merger on NSEL and FTIL under Section 396 of the Companies Act, MPID and so many other illegal measures using the wrong means of Mayaram Committee Report as designed by P Chidambaram, also got the due. One by one, the court of law is demolishing all these illegal actions," he said.

As per the statement, the court 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.

A Rs 5,600-crore payment crisis at the NSEL came to light in late 2013 and later the exchange was closed. BJ RAM ABM.

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Tags:Jignesh Shah
Location:Mumbai - Maharashtra - India
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