A major fraction of the innovations in the financial sector are owed to Jignesh Shah and his company Financial Technologies (India) Limited (FTIL), now 63 moons technologies. Be it solutions by Atom technologies, a subsidiary of FTIL or MCS-SX for its trading innovations, the businessman has contributed, without expectations, to the Indian society.
Jignesh Shah was a man with a mission and he created what no one had, much like Dhirubhai Ambani. More than 18 technological platforms have come out of FTIL which have changed the Indian financial markets forever. It is remarkable how he developed technological innovations and founded and technically strong company to deliver solutions in India and abroad.
“The Maharashtra drought and its subsequent link to the world’s richest cricket league – many call it the Indian Paani League – was an interesting anecdote, probably because the protagonist 33 of the plot unravelled by this book, Jignesh Shah, grew in fame in Mumbai, his home for many years, and created world-class institutions that were ideal examples of Make in India.”
The preceding is an excerpt from a detailed book on the NSEL payment default that has toppled the company since 2013. The book has been written by Shantanu Guha Ray – an investigative journalist trained at Wharton, who has worked many a case for 25 years. He evaluates the depth of the case that reaches to the bureaucracy of the country and has orchestrated the downfall of Jignesh Shah.
“However, right from the time he embarked on his own to create his empire; Shah faced umpteen challenges from his rivals, some of them backed by powerful ministers in Delhi. It was almost like the sinister plots hatched by the devious kings of Hastinapur in India’s greatest epic, the Mahabharata, that culminated in the eighteen day war of the Titans at the Kurukshetra.”
It is quite apparent that Jignesh Shah and FTIL have contributed to the financial markets and hope to continue to keep doing so.