63 moons technologies limited, under the leadership of its Chairman Emeritus, Jignesh Shah, has had the distinction of being the fastest growing financial infrastructure group with exchanges across multiple geographies.

1. Innovator Jignesh Shah: All Set To Win The Race
63 moons technologies limited, under the leadership of its Chairman Emeritus,
Jignesh Shah, has had the distinction of being the fastest growing financial
infrastructure group with exchanges across multiple geographies. The company
has stood the scrutiny of stringent regulation of major international financial
centres in which it established exchanges. In a short span of time of less than a
decade, it made the Indian exchanges stand among the top league of global
exchanges.
However, all this was undermined at the hands of certain vested interests who
launched massive assault against the company and its founder Jignesh Shah and
engineered a Rs 5,600 crore payment default crisis at one of its subsidiaries—the
National Spot Exchange Limited (NSEL).
Fearing rapid growth of 63 moons, the negative forces worked around the corner
to bring Jignesh Shah’s empire down. His flagship company was conveniently
made to struggle in an ongoing legal embargo over the last six years. Time has
been a witness to all the concentrated actions that have been taken against the
company and its founder without any adjudication at all.
However, two recent court orders, one in August 2019, when the Bombay High
Court quashed attaching assets of Jignesh Shah’s flagship company 63 moons
technologies in the National Spot Exchange Limited (NSEL) case ruling NSEL was
not a financial establishment, and another in April 2019, when the Supreme Court
set aside a Bombay High Court judgment approving the forced merger of crisis-hit
NSEL with parent company, 63 moons, in public interest under Section 396 of the
Companies Act, changed the tide in favour of Shah, and the 100-odd employees
and 63,000 shareholders of 63 moons tech.
The court orders will also go a long way in proving historic in the annals of
corporate governance.