 "Jignesh Shah (left), chairman emeritus, and Venkat Chary, chairman, 63 Moons Technologies, at a press conference in Mumbai on Friday. Photo: Kamlesh Pednekar")
Jignesh Shah, founder and promoter of Financial Technologies India (FTIL), since renamed 63 Moons Technologies, has argued that the 13 individuals (including his father and brother) charged with insider trading violations in the repayment controversy concerning that entity’s subsidiary are not guilty.
On Wednesday, the Securities and Exchange Board of India had passed an order against former FTIL and Multi Commodity Exchange (MCX) officials, saying they had traded with Unpublished Price-Sensitive Information (UPSI). The markets regulator has directed these individuals to pay a total of Rs 124 crore and impounded their bank and demat accounts till they do so.
By Sebi’s order,
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