 "Jignesh Shah's bail hearing postponed, to be heard on July 16")
The Bombay High Court on Thursday postponed hearing of bail plea of Jignesh Shah, chairman of Financial Technologies (FTIL) who was arrested on May 7 in connection with Rs 5600 crore scam at FTIL subsidiary National Spot Exchange Ltd (NSEL). The next hearing is scheduled for Wednesday.
This was the second time that Shah's bail plea hearing was postponed since he approached the Bombay High Court on July after the Sessions court denied his bail on June 26 and granted bail to his former colleague Shrikant Javalgekar, former managing director of the Multi Commodity Exchange (MCX), an FTIL promoted India's largest commodity futures exchange.
While co-operating with investigating agency, Shah attended the office of the Economic Offences Wing (EOW) of the Mumbai Police as many as 21 times prior to his arrest. While EOW called on him seven times, he voluntarily presented himself on 14 occasions to the office of the investigating agency.
Others arrested including Anjani Sinha, former MD and CEO, NSEL, Amit Mukherjee (former head of Business Development, NSEL), Jai Baukhandi (former head of warehousing), Nilesh Patel (MD of N K Proteins, the largest defaulter)and Arun Kumar Sharma (Director of Lotus Refineries) already released on bail.
This was the second time that Shah's bail plea hearing was postponed since he approached the Bombay High Court on July after the Sessions court denied his bail on June 26 and granted bail to his former colleague Shrikant Javalgekar, former managing director of the Multi Commodity Exchange (MCX), an FTIL promoted India's largest commodity futures exchange.
While co-operating with investigating agency, Shah attended the office of the Economic Offences Wing (EOW) of the Mumbai Police as many as 21 times prior to his arrest. While EOW called on him seven times, he voluntarily presented himself on 14 occasions to the office of the investigating agency.
Others arrested including Anjani Sinha, former MD and CEO, NSEL, Amit Mukherjee (former head of Business Development, NSEL), Jai Baukhandi (former head of warehousing), Nilesh Patel (MD of N K Proteins, the largest defaulter)and Arun Kumar Sharma (Director of Lotus Refineries) already released on bail.