Jignesh Shah granted bail in NSEL scam case

Zee Media Bureau

The Bombay High Court on Friday granted bail to MCX promoter Jignesh Shah in the Rs 5,000-crore NSEL scam.

The designated judge of Maharashtra Prevention of Investors Deposits Act Court DP Surana, had on June 24 rejected Shah’s bail on the ground that investigation is still on and that if Shah was released on bail, it is likely that he may tamper with evidence or hamper probe.

Being aggrieved, Shah had moved the High Court in last week of June.

Shah had come under the scanner of Economic Offences Wing and other agencies last year when NSEL, part of the Financial Technologies (India) Limited founded by Shah, faced a payment crisis as nearly 18,000 of its investors allegedly lost millions of rupees.

With agency inputs