Jignesh Shah’s incredible growth was perceived as a threat by the monopolistic forces who burnt midnight oil to decimate him from the exchange markets. These vested interests formed a nexus that engineered a payment default crisis at one of 63 moons technologies’ subsidiary—the National Spot Exchange Limited (NSEL) in 2013. Despite enough evidence of the entire money trail being traced to the 24 defaulters and not a paisa to the exchange, its parent company and to Jignesh Shah, the group was targeted and almost annihilated.
It started and continued for over the last 8 years of continuous harassment, several legal hurdles, ousted from all his exchange businesses, the path of India’s famed entrepreneur/innovator, Jignesh Shah, was full of thorns, but his enormous will-power and utmost faith in Indian judiciary made him believe there is always room for truth and righteousness.
However, Jignesh Shah’s fortitude for justice did not let him give up on his fight for truth. This is validated with the two recent court orders—the Supreme Court setting aside the forced merger of NSEL with 63 moons technologies in April 2019 and the quashing of the attachment of assets of Jignesh Shah’s company in the NSEL case in August 2019.
Once again, Jignesh Shah is all set to create miracles for the Indian economy and sees a strong potential in the emerging start-up ecosystem, which can flourish only if it is provided the right mentorship, funding for institutionalisation, competitive global standards and scaling up. Jignesh Shah feels he and his company can act as catalysts in the start-up industry to create up to 10 crore jobs over the next decade.