Prashant Desai talks about EOW’s decision to stops FTIL operations

Despite the recent predicament, Prashant Desai, MD and CEO, FTIL is hopeful and all positive as he asserted that in the middle of the legal battles, EOW’s order of freezing the assets and cash balance of FTIL will not hamper the day to day operations.

FTIL,Jignesh Shah,Financial Technologies Group
Expressing his views on EOW’s decision to cease the day-to-day operations of the company, Mr. Desai stated that, “We got a similar order around 2015 from EOW, where they clearly asked us not to dispose any FTIL accounts and allowed us to continue our day to day operations with ease, therefore their new order has somehow become hard to digest and was shocking when have ceased the bank accounts of FTIL firm. “
Mr. Desai further expressed his dubiousness regarding the premise of this decision and the thought process of EOW concerning this matter. The major reason for his disparage and discontent is the fact that after getting this letter from EOW, the company took the matter to Bombay High Court and got an approval on this decision made by EOW. Prashant Desai further added that they are still contemplating that on what basis EOW came up with this decision. The cooperation of the company with EOW and investigation agencies further reinforces its candor and ingenuousness in this matter.

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