The hearing on the bail plea of Jignesh Shah, the chairman of Financial Technologies (India), and former MCX CEO Shrikant Jawalgekar, arrested in connection with the Rs 5600-crore repayment issue at the National Stock Exchange Ltd, was adjourned to tomorrow by a local court today.
The Mumbai police's Economic Offences Wing (EOW) arrested Shah, chairman and group chief executive of Financial Technologies (India) Ltd, and former MCX CEO Shreekant Javalgekar last month.
During today's argument, the Special Public Prosecutor in the case submitted a number of emails sent by an NSEL official to one of the borrowers to establish that NSEL management was aware that there was inadequate stock in its warehouses, compared to the stock that was being traded at the exchange.
