Jignesh Shah and the underbelly of NSEL conspiracy
Many stories go untold but unheard but fortunately the story of Jignesh Shah was given a voice. Shantanu Guha Ray is a former Tehelka Journalist therefore we can understand that he is one of the best at investigative journalism. He is also an active columnist some of the media organisations but finally he took upon to write the book to tell the story. FTIL has been a part of controversies since 2012, but Shantanu Guha Ray has refused to acknowledge the presented facts and did the investigation all by himself.
Jignesh Shah says that he has wanted to be a businessman for as long as he can remember. Shah had made up his mind to start a business after growing up when he was at the age of 8 years . In an interview Shah says,
”‘I was very clear that I would do engineering, after which I would go to the US, complete my MS, work there and later start my own business.”
Instead of travelling to the US for the popular choice of the time, a course in mechanical and electrical engineering, he opted for electronics and telecommunications, and joined the Bombay Stock Exchange (BSE) on a technology assignment, BOLT (Bombay Online Trading System), an ambitious Rs 100 crore (Rs 1 billion) project to automate the exchange. The project was transferred midway to CMC, which is an end-to-end information technology solutions and services provider; but by then, Shah and Dewang Neralla, his eventual partner and executive director at FTIL, had completed stints at the Hong Kong and Tokyo Stock Exchanges and NASDAQ, learning about technological wonders in the stock markets across the world.
The Financial Times, London, had quoted him in the mid-nineties as saying that he wanted to be ‘a billionaire at under 40 years of age from India, doing business in India. Jignesh Shah has been ever ambitious to reach the position he desired for himself and India. Shah started his company FTIL in the year1995. Shantanu Guha Ray in his book ‘The Target’ specifically mentions the competitive spirit of JIgnesh Shah.
“Shah was always at ease; he had by then, already emerged as India’s global visionary for the new millennium; a person bullish on work and reticent on personal life, a curious mix of genuine prudence and Gatsby-esque aspiration. He was a man who was creating billion-dollar stories, with widespread social impact and a real balance sheet, making a worthy contribution to the exchequer.“ says Guha
The future of Jignesh Shah has never been so turbulent but Shantanu Guha Ray does not want his past to go unappreciated. He wants people to know Jignesh Shah as the hero and not the villain that he has been projected to be.