Wednesday; July 13,2016: India’s Financial Technologies’  shares pushed close to 10 % after the Enforcement Directorate detained its founder Jignesh Shah in link with the Rs 5,600-crore National Spot Exchange Limited (NSEL) money laundering scam.

The stock after a weak opening; floppy 8.45 % to Rs 83.40 on BSE.At NSE, shares of the company tumbled 9.63 % to Rs 82.55.

As per the officials said, “Shah was arrested yesterday under the provisions of the Prevention of Money Laundering Act (PMLA) as he was not cooperating in the investigation"

FTIL said in a statement, "We fail to understand why such a coercive step was taken against by the ED when Shah has been fully cooperating with the investigation.”