NSEL scam: Jignesh Shah denies violation of Sebi rules; alleges conspiracy
STOCK MARKET - Embattled businessman Jignesh Shah on Friday denied any violation of insider trading norms following Sebi order against 13 entities, including his relatives, with regard to trading in shares of MCX and erstwhile FTIL even as he alleged "conspiracy" against him.
On Wednesday, Sebi ordered impounding of "averted losses" worth over Rs 125 crore through alleged insider trading in MCX and its erstwhile promoter FTIL by 13 persons, including relatives of Shah and former top executives, with 'prior information' about the NSEL case. Shah had served as Chairman and Managing Director of FTIL at the time when the alleged insider trading happened. However, no order has been passed against him directly. Addressing the media here, Shah said people bought the shares in the companies in compliance with regulations and claimed that information about NSEL "was not unpublished". Shah is the chairman emeritus of 63 Moons Technologies, formerly known as FTIL -- which was promoted by him.
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