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SOURCE OF INFORMATION : FORWARD MARKETS COMMISSION WEBSITE
PERIOD COVERED : 23-JUL-2011 TO 21-NOV-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

PERSONS: SUBSTANTIAL EROSION IN GENERAL REPUTATION AND CHARACTER, RECORD OF FAIRNESS, HONESTY AND INTEGRITY IN THE AFFAIRS OF NSEL LEADING TO A FRAUD INVOLVING RS.5500 CRORE

S.No. PERSON ENTITY REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person JIGNESH P.SHAH  
History of entity/person FINANCIAL TECHNOLOGIES (INDIA) LTD.
  		SUBSTANTIAL EROSION IN GENERAL REPUTATION AND CHARACTER, RECORD OF FAIRNESS, HONESTY AND INTEGRITY IN THE AFFAIRS OF NSEL LEADING TO A FRAUD INVOLVING RS.5500 CRORE  DECLARED AS NOT A 'FIT AND PROPER’ PERSON TO HOLD ANY POSITION IN MANAGEMENT AND BOARD OF ANY EXCHANGE RECOGNISED OR REGISTERED BY GOI / FMC UNDER FCRA, 1952

ORDERED THAT NEITHER INDIVIDUALLY, NOR ANY COMPANY/ENTITY CONTROLLED BY HIM, EITHER DIRECTLY OR INDIRECTLY, SHALL HOLD ANY SHARES IN ANY ASSOCIATION / EXCHANGE RECOGNISED BY GOVT. OR REGISTERED BY FMC IN EXCESS OF THRESHOLD LIMIT OF TOTAL PAID-UP EQUITY CAPITAL OF SUCH ASSOCIATION / EXCHANGE AS PRESCRIBED UNDER COMMODITY EXCHANGE GUIDELINES AND POST 5-YEAR GUIDELINES

17-DEC-2013 		 
2
History of entity/person JOSEPH MASSEY  
History of entity/person FINANCIAL TECHNOLOGIES (INDIA) LTD.
  		SUBSTANTIAL EROSION IN GENERAL REPUTATION AND CHARACTER, RECORD OF FAIRNESS, HONESTY AND INTEGRITY IN THE AFFAIRS OF NSEL LEADING TO A FRAUD INVOLVING RS.5500 CRORE  DECLARED AS NOT A 'FIT AND PROPER’ PERSON TO HOLD ANY POSITION IN MANAGEMENT AND BOARD OF ANY EXCHANGE RECOGNISED OR REGISTERED BY GOI / FMC UNDER FCRA, 1952

ORDERED THAT NEITHER INDIVIDUALLY, NOR ANY COMPANY/ENTITY CONTROLLED BY HIM, EITHER DIRECTLY OR INDIRECTLY, SHALL HOLD ANY SHARES IN ANY ASSOCIATION / EXCHANGE RECOGNISED BY GOVT. OR REGISTERED BY FMC IN EXCESS OF THRESHOLD LIMIT OF TOTAL PAID-UP EQUITY CAPITAL OF SUCH ASSOCIATION / EXCHANGE AS PRESCRIBED UNDER COMMODITY EXCHANGE GUIDELINES AND POST 5-YEAR GUIDELINES

17-DEC-2013 		 
3
History of entity/person SHREEKANT JAVALGEKAR  
History of entity/person FINANCIAL TECHNOLOGIES (INDIA) LTD.
  		SUBSTANTIAL EROSION IN GENERAL REPUTATION AND CHARACTER, RECORD OF FAIRNESS, HONESTY AND INTEGRITY IN THE AFFAIRS OF NSEL LEADING TO A FRAUD INVOLVING RS.5500 CRORE  DECLARED AS NOT A 'FIT AND PROPER’ PERSON TO HOLD ANY POSITION IN MANAGEMENT AND BOARD OF ANY EXCHANGE RECOGNISED OR REGISTERED BY GOI / FMC UNDER FCRA, 1952

ORDERED THAT NEITHER INDIVIDUALLY, NOR ANY COMPANY/ENTITY CONTROLLED BY HIM, EITHER DIRECTLY OR INDIRECTLY, SHALL HOLD ANY SHARES IN ANY ASSOCIATION / EXCHANGE RECOGNISED BY GOVT. OR REGISTERED BY FMC IN EXCESS OF THRESHOLD LIMIT OF TOTAL PAID-UP EQUITY CAPITAL OF SUCH ASSOCIATION / EXCHANGE AS PRESCRIBED UNDER COMMODITY EXCHANGE GUIDELINES AND POST 5-YEAR GUIDELINES

17-DEC-2013 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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