In the first arrest in the NSEL's Rs 5,600 crore (Rs 56 billion) payout scam, a top official of the beleaguered spot commodity bourse, which defaulted on its payment for the eighth time in a row yesterday, was held on Wednesday by Mumbai police's Economic Offence Wing (EOW).
Jignesh Shah, who is fighting legal cases in the NSEL's Rs 5,600-crore scam, has resigned as the Managing Director of Financial Technologies India, a company set up by him, and will become its Chairman-Emeritus.
The start of BHIM's declining share coincided with the launch of Google Tez in mid-Septem
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