The board will have to take a decision that he cannot remain a permanent director and also have to decide to whether to amend the article of association of the exchange in this regard.
Lack of consensus on 'how not to let Jignesh Shah get away' could become a huge embarrassment for the government.
Shah and Javalgekar were arrested on May 7.
Shah wants to focus this time on a mentoring role and help youngsters with innovative ideas live their entrepreneurship dreams by providing them a platform for "institutionalisation, globalisation and scaling up" of their ventures.
Shah's emotional statement indicates he has bid farewell to MCX; but is he stooping to hit back?
In a severe indictment, commodity market regulator FMC has said Jignesh Shah and his firm FTIL are not 'fit and proper' to run any exchange in the country and charged him of being the "highest beneficiary" in the NSEL scam.
Shah, the forty-year-old managing director and CEO of Multi Commodity Exchange speaks about how he created this empire in a decade.
An interview with Jignesh Shah.
The sessions court on Thursday extended the police custody of the Financial Technologies and Multi Commodities Exchange (MCX) promoter Jignesh Shah and former managing director and chief executive of the commodity exchange Shreekant Javalgekar till May 19.
'Dalits are not going to vote for the BJP in 2019.'
rediffGURU Samkit Maniar answers readers' personal income tax queries.
The court, later in the day, allowed his application.
Gives 90 days time to dispose stake in four entities.
The Economic Offences Wing (EOW) of the Mumbai city police is expected to file a First Information Report (FIR) against Jignesh Shah, promoter of Financial Technologies and vice-chairman of National Spot Exchange (NSEL), and former senior management officials in connection with the current payment crisis.
Shah is likely to be released later on Friday evening or Saturday after completing the formalities.
The NSEL scam, involving Rs 5,600 crore, came to light after the now defunct exchange, promoted by Financial Technologies, failed to pay its investors.
The Enforcement Directorate on Tuesday arrested Financial Technologies India Limited founder Jignesh Shah in connection with its probe into the Rs 5,600-crore National Spot Exchange Limited money laundering scam.
Two days after Mumbai Police attached his properties, Jignesh Shah, director of the beleaguered National Spot Exchange Ltd, on Thursday told investigators that he was making "relentless" efforts to recover money from defaulters.
ED lawyer Hiten Venegaonkar contended that huge amount of money was laundered and Shah's acts constituted a very serious economic offence
Jignesh Shah, the promoter of Financial Technologies India Ltd, on Wednesday resigned from the board of MCX Stock Exchange, amid continuing Rs 5,600 crore (Rs 56 billion) payment crisis at group company NSEL.
The Securities and Exchange Board of India, on Wednesday, directed Jignesh Shah-led FTIL to sell shares in MCX-SX and other entities within 90 days on the ground that it was not 'fit and proper' to own stakes in any exchange.
Though the agency did not include former Sebi chief CB Bhave and ex-member KM Abraham in the case, it recommended departmental action against the two.
From all indications, Sunil Kanugolu is here to stay, though whether his magic will help the Congress in the northern states in the Lok Sabha elections remains to be seen, wonders Aditi Phadnis.
Obama in an interview to CNN on Thursday had said that India may "pull apart" if the rights of the religious and ethnic minorities are not upheld.
A sessions court in Gujarat's Mehsana district on Wednesday set aside a lower court order sentencing Congress MLA Jignesh Mevani and nine others to three months in jail in a 2017 case of taking out a public rally without police permission, noting debates and bona fide criticism of government actions are essential for the existence of democracy.
The Congress leader from Gujarat said the Dalit community has given a call for a nationwide candle march on February 19 in support of Solanki, who was a first-year student of B.Tech (chemical) course.
Case relates to alleged irregularities in '08 sanction to MCX-SX; Shah grilled in NSEL case.
The committee has also recommended highlighting 'Hindu victories' in various battles in the textbooks.
Gaurav Gogoi will head the screening committee for Rajasthan with Chief Minister Ashok Gehlot and former deputy chief minister Sachin Pilot included among the ex-officio members of the panel.
Here's how our netas faring in the elections.
Darshan Solanki, who hailed from Ahmedabad in Gujarat and was a first-year student of B Tech (Chemical) course at the IITB, allegedly died by suicide by jumping off the seventh floor of a hostel building located on the campus on February 12.
A three-member team from Powai police under whose jurisdiction the premier institute is located reached Solanki's home at Maninagar in Ahmedabad city in the morning, an official said.
The Gauhati high court on Monday said the observations made by a Barpeta court in its order granting bail to Gujarat MLA Jignesh Mevani for allegedly assaulting a woman police officer ''crossed its limits" and "demoralised" the police force and the government of Assam.
Do you have financial planning queries? Ask rediffGURU Kirtan A Shah.
Mevani, an MLA supported by the Congress, was booked under Indian Penal Code Sections related to voluntarily causing hurt, assault or criminal force to deter public servant from discharge of his duty and others, police said.
Mevani claimed the time has come for Prime Minister Narendra Modi to "retire".
Counting of votes will be held on Thursday for the Gujarat assembly elections which were held in two phases on December 1 and 5 across 33 districts of the Bharatiya Janata Party-ruled state.
Gujarat has registered a voter turnout of 64.33 per cent for the recently-concluded elections to 182 assembly seats, a drop of more than 4 per cent as compared to the turnout registered in the 2017 polls.
Gujarat legislator Jignesh Mevani was granted bail by a court in Assam's Barpeta district on Friday in a case related to the alleged assault of a woman police officer.
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