Innovator JIGNESH SHAH's faith and perseverance wins ultimately

Lists abound of the greatest entrepreneurs of modern world. The names may vary here and there but a handful make it to most of such lists. Fintech innovator, Jignesh Shah, currently Chairman Emeritus, 63 moons, is a front-runner among these for his sustained innovation and transforming the face of Indian financial markets that helped India realise its 'Make in India' dream.

Jignesh Shah went on to set up 10 world-class exchange companies under his flagship company FTIL (now called 63 moons tech), in various asset classes, in just 10 years across India and abroad. Shah also successfully established electronic silk and spice routes right from Africa, to the Middle-East and South-East Asia.

However, these efforts went down the drain at the behest of some vested interests who launched a premediated massive assault on the company and its founder. This assault came out in the form of a Rs 5,600 crore payment default crisis at one of company's subsidiaries-the National Spot Exchange Limited (NSEL).

Fearing FTIL's rapid growth, the negative forces worked around the corner to bring Jignesh Shah's empire down. However, the world slowly took note of the six-year-long assault in the form of the two recent court orders. In August 2019, the Bombay High Court quashed attaching assets of Jignesh Shah's flagship company 63 moons technologies in the National Spot Exchange Limited (NSEL) case as it ruled that NSEL was not a financial establishment.

In April 2019, the Supreme Court also set aside a Bombay High Court judgment approving the merger of crisis-hit NSEL with parent company, 63 moons, in public interest under Section 396 of the Companies Act.

Shah is now rearing to go into the start up ecosystem and mentor millions of India's young entrepreneurs.