Jignesh Shah had just opened the doors to the phase before which he had done all the hard work to enjoy the fruits of the future. But by this time he had managed to ruffle a few feathers which brought catastrophic results for him. He had managed to build an empire out of nothing and had turned it into a towering company. But FTIL faced the worst possible fate when it came under the scrutiny egotistical bureaucratic interference. Shantanu Guha ray defines this phase of Jignesh Shah’s life as follows:


‘What was K P Krishnan’s motive behind this push? Why was he taking so much interest to force two public sector enterprises to sell their shares in favour of one private company – the NSE? This clearly indicated – to my mind – that there was a well- designed mala fide intention to kill competition! My fears were not unfounded.’


Jignesh Shah knew  that to  come out clean of this anarchy he had to give his full co-operation to the police and the investigation which he most willingly did. However, his fate was already sealed in behind some of the closed doors of  highly positioned government  officials and politicians.

“We were here three hours ago, what went wrong that you are taking us in?” Shah asked again. Shah was interrogated by the EOW several times between September 2013 and May 7, 2013, and no incriminating evidence was ever found against him. Actually Shah was summoned 7 times, and he went on his own to the EOW Office 21 times, a fact corroborated by the cops.


To many people’s surprise, when the police stepped on the throat of 63 moons, this seemed so uncanny. If only people could remind themselves that no government conspiracy is complete without cooperation from the police services. 


‘The two had been in and out of the EOW precincts for almost three months; in fact, precisely two months and a half, helping the cops in every possible way, answering whatever was asked in their efforts to track down a whopping Rs 5600 crore that went missing in the NSEL payment crisis. What’s significant is that even after 90 days in custody, cops did not find anything substantial against Shah.’


Indian politics has always been two faced but this was one of the rare petrifying examples when all was done in open yet the victim was very successfully turned into a culprit. 

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