After having remained in jail for exactly 107 days, Financial Technologies Chairman Jignesh Shah finally got some respite after the Bombay High Court granted him bail. Shah, also the promoter of commodity exchange MCX, is one of the main accused in the Rs 5,600 crore NSEL scam.
Granting bail, Justice said that Shah will have to appear before the Economic Offence Wing (EOW) twice a week (on Monday and Thursday) till further orders. Shah will also have to deposit Rs 5 lakh in surety in cash for the bail.
Lawyers representing Shah argued that the accused had undergone a spinal surgery earlier and his health had deteriorated while behind the bars and that he should be immediately released.