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NSEL scam accused Jignesh Shah gets bail

Posted on Aug 22 2014 | IANS

Mumbai, Aug 22 : The Bombay High Court Friday granted conditional bail to FTIL promoter Jignesh Shah, who was arrested in the Rs.5,574 crore National Stock Exchange Ltd (NSEL) scam.

Shah - who spent over three months in custody after his arrest May 7 - will be freed on a bail amount of Rs.500,000 and the condition he appears before the Mumbai police's Economic Offences Wing all Mondays and Thursdays till further orders.

While granting Shah's bail plea, Justice A. M. Thipsay directed him to furnish a cash surety Friday and another solvent surety (guarantor) of a like amount within a fortnight.

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