ED unethically stalls Jignesh Shah
Every legal proceedings of Government is supposed to be in line with the designed protocol, but in case of Jignesh Shah, India’s financial techie, every protocol is seemed to be breached. Finance Ministry has appointed Enforcement Directorate (ED) to investigate the matter. ED seems to ignore each and every laid regulation in this case.
Jignesh Shah, The Poster boy of Indian commodities market, was called for routine questioning on July 12th, 2016 and later he was asked to stay back and authorities informed him very casually about his detention. ED has no authorization for this illegal action.
Jignesh Shah, the Managing Director of Financial Technologies Group (FTIL) is in news these days as he is dragged in the NSEL crisis. Though he was earlier booked in the matter in the year 2014, where Justice Thipsay had granted him bail as there were no appropriate evidences proving Jignesh Shah’s involvement in the matter. Now in the year 2016, ED has again detained him with similar charges which are already mentioned in the first charge sheet.
ED is getting nowhere in the case and just to supress the pressure exerted by higher authorities they have taken this extreme step. Breaching of protocol and detaining a person with the same charges for which he has been released earlier, nowhere seems to be a logical step.
In fact, investigating agencies have itself informed the court that Jignesh Shah has been extremely cooperative in the proceedings until now. Social networking sites have been flooded with messages all over India against this corrupt affair. Sensing the compassion of the matter, ED released a statement that Shah was booked only because the president of FTIL, Shreekant Javalgekar was unable to produce relevant evidence and so Shah is the right person to throw some light on all the illegal transactions as he possessed 99.9% shares of FTIL.
Renowned personalities like Justice KTS Tulsi and Majid Memon believe that ED’s move was not at all ethical and investigating authorities should also confront other shareholders and stakeholders of FTIL.
However, the boiling question is who authorized ED to do the arrest. The matter is red-hot and soon ED has to come up with some justified answers.