gfiles magazine

October 4, 2014

Jignesh Shah goes free again

scam nsel

The Bombay High Court recently granted Jignesh Shah bail after 107 days in jail in the Rs. 5,600-crore National Spot Exchange Limited (NSEL) scam. Justice AM Thipsay said in his order: “I am granting him bail… since there is no possibility of him absconding.” This has raised eyebrows. All agree that the Rs. 5,600-crore crime was committed. The only debate is whether the court should have accepted the Economic Offences Wing (EOW) chargesheet which clearly spelt out that Shah was deeply involved in the fraud.

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