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

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