NIF chief Sharad Saraf tenders apology to 63 moons & Jignesh Shah
- EP News Service
- Apr 14, 2021
NEW DELHI: Following closely, the throwing out of a petition filed by Ketan Shah of the NSEL Investors Action Group (NIAG), opposing payment to small traders of National Spot Exchange Limited (NSEL) by the Supreme Court (SC), today another traders’ body, NSEL Investors’ Forum (NIF) and its chief Sharad Saraf have tendered an unconditional apology Jignesh Shah and 63 moons technologies.
Saraf has tendered his unconditional apology in the Delhi High Court and has also undertaken to withdraw the defamatory tweet and document maligning Shah and 63 moons from all social media.
NSEL today said that Saraf and NIF had published defamatory tweet and document with the intention of smearing the name of Jignesh Shah and 63 moons which were nothing but untrue propaganda and blatant lies, following which a civil suit was filed against Saraf.
According to NSEL, while the matter was pending, Saraf and NIF had approached Shah with requests to settle the matter. In the interest that the truth should be on the record, Shah insisted on an unconditional apology and withdrawal of defamatory posts and to apologize on a public forum, which he did through his Twitter post.
Ketan Shah of the NIAG had challenged the Bombay High Court's order in the SC to block payment to 6445 small traders out of the 13,000 ‘questionable’ traders of NSEL, however, it was summarily dismissed and according to NSEL he also stands totally exposed as playing in the hands of brokers and acting against the interest of small investors.
NSEL added that these recent developments clearly establish that truth cannot be suppressed perpetually and a crisis that was created, fueled and kept unsolved for eight years, was solvable in eight days.
Over the past few years, it has emerged that the crisis was engineered by the former Finance Minister P Chidambaram and his two favourite bureaucrats, Ramesh Abhishek, KP Krishnan to eliminate 63 moons group from exchange space and thereby protect the monopoly of the National Stock Exchange (NSE).
63 moons technologies has already filed a Rs 10,000 crore damage suit against the three in the Bombay High Court and in July 2019, which has been allowed to sue Chidambaram and the others.
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