Sunday, December 07, 2025 | 07:34 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

NCLT declares Jignesh Shah not fit & proper for FTIL or any other board

Chennai bench of tribunal names nine others along with Shah, asks Govt to appoint three nominee directors to FTIL board

Jignesh Saha, NSEL scam
premium

Jignesh Shah, Chairman Emeritus of 63 Moons Technologies Ltd speaks during a press conference in Mumbai. Photo: Kamlesh Pednekar

T E NarasimhanGireesh Babu Chennai
The National Company Law Tribunal (NCLT)'s Chennai bench has declared Jignesh Shah, alleged to have been involved in the Rs 56-billion NSEL scam, and nine others 'not fit and proper' as directors of any company. The order was issued in a matter related to Financial Technologies Ltd (FTIL), which has now been renamed 63 moons Technologies.

NCLT also ordered the Government to nominate three directors to the FTIL Board.

The order follows a petition filed by the Government of India against the company and its directors in a case related to the NSEL scam. The Government has sought