NEW DELHI: Following raids at the offices of the Metropolitan Stock Exchange of India (MSEI), formerly MCX Stock Exchange, the residence of Financial Technologies India Ltd promotor Jignesh Shah and other directors, Shah was arrested by the Central Bureau of Investigation.
The raids, made at nine different locations, were made in relation to the license granted by Sebi to the MCX-SX according to an FTIL statement.
This is the third such time Shah has been arrested by various agencies, including the Economic Offences Wing of the Mumbai police in May 2014, for which he was granted bail three months later by the Bombay high court. That arrest was in connection with the Rs 5,574 crore National Spot Exchange Ltd (NSEL) payment.
CBI is reportedly investigating his role in both the NSEL payment as well as the licence grant case.