The Financial Technologies and Multi Commodities Exchange (MCX) promoter Jignesh Shah was arrested today by Mumbai Police for his alleged involvement in the Rs 5,600-crore National Spot Exchange Limited (NSEL) scam.
Jignesh Shah was a group chief executive of MCX Stock Exchange, promoted by Financial Technologies.
Shah's 26 per cent holding in MCX has to be brought down to nil over the next three years and to 2 per cent over the next 90 days, according to the regulators.
Financial Technologies India Ltd (FTIL) has called a board meeting for Thursday to discuss the arrest of Jignesh Shah.
