GOVERNANCE
nsel scam follow-up
Jignesh Shah is
selling his stake as he and his company, FTIL, have been declared unfit to run
any exchange
The higher you go, the greater your
fall. Two, there are no permanent mai-baaps to break your fall each time
you land in trouble. These are the biggest lessons to be learned from the fate
of businessmen like Subrata Roy, Jignesh Shah, B Ramalinga Raju of the Satyam
group, Shahid Balwa of DB Realty, Sanjay Chandra of Unitech Wireless and Vinod
Goenka of Swan Telecom.
The
end game has begun. Shah is going to withdraw from the stock exchange business
he painstakingly created, but not before the Economic Offences Wing of the
Mumbai police filed a 9,360-page chargesheet against him in the Rs. 5,574-crore
fraud at the National Spot Exchange Ltd (NSEL).
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