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The Target
The the decimation of Jignesh Shah's global empire. How he broke the market monopoly and the price he paid.
If things had gone Jignesh Shah's way, he would have been the Czar of Exchanges, a sterling exponent of Prime Minister Narendra Modi's 'Make in India' programme. Shah pioneered creation of 10 new-generation regulated multi-asset (equity, commodity, currency, bond and electricity) financial markets just in 10 years across India, Singapore, Dubai, and Africa. No innovator has been credited with such accomplishments across the world. All the markets were number one in India and number two in the world. He was riding a crest from which very few could have toppled him by way of talent and performance.
But he had taken on institutional forces like the National Stock Exchange (NSE) and invisible forces that backed NSE including its political godfather, corporates with vested interest, rich and powerful brokers and FII fronts-known as the famed Malabar Hill Club - by sheer performance to democratize the market prosperity to masses. First the Spot Exchange crisis was created, and then it was used by this very club that ganged up with influential politicians and bureaucrats in Lutyen's Delhi to get Shah arrested in May 2014 on charges that have not yet been proved in court. Rather, the entire money trail has been established to the 24 defaulting brokers against whom there has been literally no serious action at all as has been done against FTIL and Shah!
In May 2016, it was revealed that brokerages responsible for NSEL payment crisis would come under the scrutiny of market regulator SEBI. A Bombay High Court-appointed committee even found brokerages guilty of submitting false PAN card details of clients and trading without their consent.
In this book, seasoned journalist Shantanu Guha Ray meticulously probes the motives of those who shunted Shah out of Exchange businesses and what it means for the politico-business climate of India.
If things had gone Jignesh Shah's way, he would have been the Czar of Exchanges, a sterling exponent of Prime Minister Narendra Modi's 'Make in India' programme. Shah pioneered creation of 10 new-generation regulated multi-asset (equity, commodity, currency, bond and electricity) financial markets just in 10 years across India, Singapore, Dubai, and Africa. No innovator has been credited with such accomplishments across the world. All the markets were number one in India and number two in the world. He was riding a crest from which very few could have toppled him by way of talent and performance.
But he had taken on institutional forces like the National Stock Exchange (NSE) and invisible forces that backed NSE including its political godfather, corporates with vested interest, rich and powerful brokers and FII fronts-known as the famed Malabar Hill Club - by sheer performance to democratize the market prosperity to masses. First the Spot Exchange crisis was created, and then it was used by this very club that ganged up with influential politicians and bureaucrats in Lutyen's Delhi to get Shah arrested in May 2014 on charges that have not yet been proved in court. Rather, the entire money trail has been established to the 24 defaulting brokers against whom there has been literally no serious action at all as has been done against FTIL and Shah!
In May 2016, it was revealed that brokerages responsible for NSEL payment crisis would come under the scrutiny of market regulator SEBI. A Bombay High Court-appointed committee even found brokerages guilty of submitting false PAN card details of clients and trading without their consent.
In this book, seasoned journalist Shantanu Guha Ray meticulously probes the motives of those who shunted Shah out of Exchange businesses and what it means for the politico-business climate of India.
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Published April 30, 2018
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Displaying 1 - 18 of 18 reviews
March 13, 2017
Reading this book gives one a feeling that it might just be a propoganda vehicle where Jignesh Shah gets to tell his version of "the truth". While the rise of JS has been a powerful story, and at one point, he was likened to be the next Ambani of India, the alleged involvement in the NSEL "scam" changed his fortunes drastically. The release of the book is well timed and comes at a juncture when the courts will decide on whehter to force the merger of NSEL with the parent company FTIL (now 63 moons technologies pvt. ltd.). Meanwhile, I have to decide on whether I should add to my shareholding of 63 moons to cover up for the losses expecting a court verdict that is favorable to the shareholers as well as upholds the definitions of limited liability company.
May 18, 2017
Shantanu has put things into perspective!
Good book. Haven’t read a piece as straightforward as this in the recent times.
Great factual evidences.
Cheers!
Good book. Haven’t read a piece as straightforward as this in the recent times.
Great factual evidences.
Cheers!
March 31, 2018
1. Onsided and written with a sole objective to defend Jignesh Shah
2. Too repetive. Almost every chapter talks about same thing. Same facts repeted multiple times makes the reading boring at one point of time.
2. Too repetive. Almost every chapter talks about same thing. Same facts repeted multiple times makes the reading boring at one point of time.
May 18, 2017
I think this book has finally done justice to Jignesh Shah! He has been through a lot ever since the crisis broke in 2013. He has done a lot for the nation and the fact that it was forgotten so easily when the NSEL crisis surfaced was disgustingly sad. I think he should be given a fair chance so that the nation understands his caliber and gives him the recognition that he lost! The truth must come out as soon as possible! Shantanu has done a wonderful job of writing the book well!
September 22, 2018
Superb book having detailed analysis on JS
This is a must read book who all follows markets. I have seen the IPO and success of MCX, NSEL, FTIL as a investor (never hold any equity but was in wish/watch list). This book gives in-depth research on Jignesh Shah, how strong minded he is. Anyone would have broken in such situation. Best wishes to Jignesh Shah for his future. Thanks to the author for such a lovely book.
This is a must read book who all follows markets. I have seen the IPO and success of MCX, NSEL, FTIL as a investor (never hold any equity but was in wish/watch list). This book gives in-depth research on Jignesh Shah, how strong minded he is. Anyone would have broken in such situation. Best wishes to Jignesh Shah for his future. Thanks to the author for such a lovely book.
May 18, 2017
the book is an exclusive example of how a young innovator toiled hard and harder to get India its sweet fruit in the financial market and unknowingly got targeted in the spasm of big jealous names. an eye opening experience!
May 18, 2017
Mr. Guha Ray’s knack for storytelling needs a standing applause. The way he builds suspense and curiosity in the reader is what makes the book a captivating read. Turning such a dry subject into a fast-paced read is not an ordinary feat.
May 18, 2017
After many years I have read a book which is quite appealing and at the same time, equally interesting.
May 18, 2017
The Target book gives a neutral analysis of how Jignesh Shah was targeted by vested interests who ganged up against him because he broke their monopoly in Exchange markets.
May 18, 2017
I was pleasantly surprised to discover this gem of a book. A very interesting narrative for a book about the role of corporate, bureaucrats and politicians in the financial markets.
May 18, 2017
An interesting revelation of a conspiracy which wrongly targeted an innocent entrepreneur who was only envisioned to get our country into limelight.....
May 18, 2017
Very few books on Corporate make for an interesting read. The Target is nothing short of engaging.
July 29, 2017
Repetitiveness of facts in different chapters.
March 8, 2021
An eye opener - Must Read
Thank you Shantabunfor bringing in public one of the most sinister plots to bring down a true jewel of our nation.
Thank you Shantabunfor bringing in public one of the most sinister plots to bring down a true jewel of our nation.
October 4, 2022
Complete waste of time, instead of such a big book one essay would have done the job. As the same stuff gets repeated again and again.
May 18, 2017
The author, Shantanu Guha Ray, has certainly done justice to the narrative. Kudos for his efforts! The story of Jignesh Shah, the protagonist, will surely be an inspiration to many.
April 4, 2017
If you are a criminal, then write a book, in which you praise someone and demonise someone with the aim of going scot free.
The book has bad writing style and worst of all, not much content.
Waste of time
The book has bad writing style and worst of all, not much content.
Waste of time
Read
May 23, 2017Innovators & Visionaries can not be stopped .
Man's ability to think clearly in reality is the biggest asset to overcome any adversity.
His vision of thousands of entrepreneurs is the only way forward.
Love it.
Man's ability to think clearly in reality is the biggest asset to overcome any adversity.
His vision of thousands of entrepreneurs is the only way forward.
Love it.
This entire review has been hidden because of spoilers.
Displaying 1 - 18 of 18 reviews