 NSEL Investors Action Group founder Ketan shah is once again in news for a case filed against him  He is one of the Investor who invested huge capital.

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Presentation transcript:

 NSEL Investors Action Group founder Ketan shah is once again in news for a case filed against him  He is one of the Investor who invested huge capital going against his brokers & Market experts advice  Shah is continuously Putting blame of his decision on others & targetting FTIL  Ketan Shah influenced other brokers that it is ok to blame NSEL for his own wrongdoings

 Ketan Shah came in light again when the additional metropolitan magistrate court at Ballard Pier based in Mumbai has ordered the defamation case filed by FTIL  The defamation suit was filed by FTIL early this month  The suit was about accusing Shah of posting made-up & deceptive information on various social media platforms

 The court ruled A prima facie offence of defamation is made out against Shah after hearing the complainant  So the issue process to Ketan Shah for the offence punishable under Section 500 of the Indian Penal Code, 1860  It is clearly stated by FTIL that behavior like this wont be tolerated

 The court order, verified by Business Standard, mentions that Shah has used the language which causes defamation of the complainant company & its founders  The order mentions Besides making defamatory comments, it (the social media posts) are not buttressed by any supporting evidence by the accused towards its veracity.  Senior criminal lawyer Majeed Memon from MZM Legal represented FTIL before the court, during which he vehemently made out a case of gross damage caused by irresponsible abuse of the Twitter platform by the accused.

 FTIL has prayed that Shah be directed to pay a compensation of Rs 0.99 Cr. to any government charitable hospitals.