PATH-BREAKING VISION OF INDIAN TYCOON JIGNESH SHAH

Financial market wizard Jignesh Shah is one of the most prominent entrepreneur of India, leading 63 moons technologies limited. 63 moons is a first-generation enterprise that created new standards and benchmarks on potential and possibility of financial markets development. Jignesh Shah is the brain behind advanced financial solution such as ODIN. He has pioneered 18 different technological innovations and institutions between 1995-2012. Jignesh Shah has been one of the initial flag bearer of 'Make in India' through his various projects on spot exchanges and trades, putting India on the world map.

Being an inspiration for the new generations, Jignesh Shah has always strived to made new paths for the young people. After building nine world-class exchanges in India and abroad, Jignesh Shah sees 100-times biggest potential in startup ecosystem. 

Earlier, Shah through his multiple ventures had created over one million jobs during a period of ten years and now sees 100-times bigger business potential in a 'startup ecosystem' which he feels can create up to 10 crore jobs over the next decade. Jignesh Shah wants to focus this time on a mentoring role and help youngsters with innovative ideas live their entrepreneurship dreams by providing them a platform for "institutionalisation, globalisation and scaling up" of their ventures.

Referring to Prime Minister Modi's strong leadership, Jignesh Shah feels that as compared to earlier days, now India has far better conducive environment where entrepreneurship and job creation both can flourish together at a much larger scale. 

Read More

DHFL Crisis: Bombay HC Restrains Promoters From Travelling Abroad

The Bombay High Court on Thursday restricted Dheeraj Wadhwan and Kapil Wadhwan, promoters of the crisis-hit Dewan Housing Finance Ltd (DHFL) from travelling abroad while hearing an application filed by 63 Moons Technologies Ltd seeking recovery of Rs.200 cr owed by DHFL.

Justice SJ Kathawalla refused relief to the brothers and said that the two will have to take permission from Court for leaving the country.

Senior Advocate Gaurav Joshi and Cyrus Adeshir appeared on behalf of the defendant brothers. They challenged the maintainability of the plaintiff's application and contended that trustees of the bond-holders already moved an application before the Debt Recovery Tribunal (DRT), Pune bench for recovery of dues on behalf of debenture holders.

They informed the Court that Dheeraj Wadhawan, also known as Baba Dewan amidst social circles in Mumbai is admitted in Lilavati Hospital allegedly suffering from a lung infection and the Kapil Wadhawan is in India and "is trying to sort out the problems."

It was further submitted that the defendants may have to travel abroad for raising funds. Appearing for the plaintiff, Senior Advocate DD Madon objected to this and submitted that the defendants may escape if allowed to leave the country.

The Jignesh Shah promoted 63 Moons had subscribed to the non-convertible debentures (NCD) of DHFL, after DHFL failed to repay the money, the plaintiff moved court.

  

Edelweiss AMC, Kotak Mahindra AMC, Axis Asset Management and Reliance Nippon had moved the Bombay High Court seeking disclosure of all its assets and liabilities of DHFL. They also sought directions restraining DHFL from making any payments/disbursements to secured and unsecured creditors. High Court had ruled against DHFL in all the cases.

DHFL is currently under investigation for alleged financial irregularities by multiple agencies. Enforcement Directorate (ED) is examining an Rs.2186 crore loan given by DHFL to Sunblink Real Estate, a Non-Banking Finance Company (NBFC).  The money was allegedly used to acquire properties in the name of Iqbal Mirchi, a close associate of Dawood Ibrahim. Serious Fraud Investigation Office (SFIO) is also probing DHFL for alleged financial fraud.

Read More

JIGNESH SHAH: THE CZAR OF EXCHANGES

63 moons technologies limited, formerly FTIL, has made a mark in the field of technological innovations in financial markets and has been named as one of the most powerful and influential companies under the leadership of its founder Mr. Jignesh Shah. 

Climbing Mount Everest is the ultimate achievement for any climber, but when a company leaves a mark on its own without any support and writes a success story even after facing competition from well-established market players, it is nothing short of awe-inspiring.

63 moons is a global leader in providing next-generation technology innovations, platforms, and solutions for creating digital markets and marketplaces. The entry of 63 moons into the exchange space, under the mentorship of Mr. Jignesh Shah, brought competition that benefited the stakeholders enormously. 63 moons put up efficient alternatives virtually in every asset class that had a very positive impact on growth and productivity.

63 moons have been instrumental in creating and changing the landscape of various market segments and building global size and significance, all thanks to Mr. Jignesh Shah. Most of the market infrastructure that was created was in Greenfield ventures with 63 moons' vision of making each of these ventures into markets of national importance.

It is quite evident that the growth story of the erstwhile FTIL is about empowering people. As such, 63 moons have always emphasized on gainful economic opportunities for the youth and women.

Read More

JIGNESH SHAH: IN PURSUIT OF INNOVATION AND PUBLIC GOOD

Talk about the innovations that have catapulted the Indian financial ecosystem to a zenith point, Jignesh Shah will be always be placed as the numero uno tech entrepreneur.  He not only created nationwide, efficient and transparent market places with the scientific price discovery process but also generated more than a million jobs in our economy.

Having the mettle to venture into the system when no other established players ‘wanted to the take the risk’, Jignesh Shah’s ventures not only brought in the much-needed transformation in the sector but also envisioned the Indian market at the epicenter of global markets by integrating it with the global exchanges.

A stellar example of value creation, his flagship company, 63 moons technologies limited or the former FTIL became the first major software product company in the country with leading proprietary products. The journey, which began with the launch of ODIN in 1995—a brokerage solution that helped the stock markets to spread across the nation—progressed with the set-up of nine multi-asset-class national and international exchanges, a national electronic payment service as well as a platform providing financial real-time content namely, MCX, MCX-SX, DGCX, IEX, BFX, SMX, Bourse Africa, Atom Technologies and Ticker plant.

And while doing so, 63 moons always promoted local talent and skills in the financial market because of its sheer belief in the power of the Indian enterprise. 63 moons have always focused on generating sustainable incomes and self-employment opportunities. The company’s model of ‘Social Business Entrepreneur’ has generated over a million jobs that have blended social interest with inclusive growth while assuring highest returns to the shareholders.

Read More

63 moons- a brilliant, first-generation enterprise

Add caption

Fintech company, 63 moons, is a first-generation enterprise that created new standards and benchmarks on the potential and possibility of financial markets development.

With technology as its core strength, 63 moons have always created new standards in financial innovations.  Despite 63 moons being in the private sector, it has contributed significantly to the growth of public capital markets. 

It is 63 moons that took India to the international level in regard to exchange operations in major segments, such as commodities, currencies, and energy. 

A nationwide study by a leading research institution, Tata Institute of Social Sciences (TISS), described MCX, one of the erstwhile Financial Technologies group companies, in one catch line: "

A Million Jobs and a Million More Opportunities". The group has created millions of new stakeholders in the financial system, giving opportunities to earn, grow and seek a sustainable livelihood.

Agencies, authorities, regulators and other development institutions from various countries used to visit 63 moons to know and learn how it was able to create such a success story of sustainable financial market infrastructure. 

For the kind of contributions that Jignesh Shah has made in the fintech space, the countries were keen to partner with his Group to replicate its success in India, in their respective countries.

Read Also:-  INNOVATION AT ITS BEST

Read More

INNOVATION AT ITS BEST

While the world today is increasingly turning towards e-commerce, it was more than a decade ago that 63 moons technologies India Limited, then known as Financial Technologies India Ltd, had taken the Exchange markets by storm with its various tech-innovations.

                                       

63moons introduced some revolutionary products in categories such as Exchange Solutions, Brokerage Solutions, Messaging Solutions, Connectivity Solutions, Consulting Solutions and Banking Risk Solutions.

All the years, the company has transformed the landscape of Indian financial markets in less than a decade and realized its ‘Make in India’ dream by taking Indian innovations to global standards in terms of operations, scale and size.

As a company, 63 moons have always emphasized on the importance of an ecosystem where all stakeholders are able to gain from the markets. A series of ecosystem ventures started by 63 moons to support the exchange system included real-time information (Ticker Plant), payment solutions (Atom) and knowledge management (FTKMC) among others.

It’s 63 moons technologies’ the stellar contribution that has positioned India among the top in the world of financial markets. Exchanges and ecosystem ventures of the 63 moons group have been revenue generating and employment-intensive.

READ ALSO:-  MANAGING RISK THE RIGHT WAY

Read More

MANAGING RISK THE RIGHT WAY

63 moons technologies are among the global leaders that offer technology IP (intellectual property) and domain expertise to create and trade on next-generation financial markets, which are transparent and efficient.

The company’s focus has always been on providing technology solutions, building user-friendly platforms and creating digital marketplaces in India and abroad, thereby positioning India in the international marketplaces.

The risk solution division of 63 moons provides highly secure software applications which are categorically designed as a risk management system to the banking financial services and insurance (BFSI) sector in the area of information management.

Risk solutions product suites comprise:

1)      Data collector: A web-based application software that helps regulators with efficient collection of information from downstream regulated entities. This software enables users to make informed and timely decisions.

2)     A web-based risk management application comprises modules such as ADF, Market Risk, Operational Risk, ALM and Credit Risk.

 READ ALSO:-  The fintech that refined Indian financial markets

Read More