The Special Prevention of Money Laundering Act (PMLA) court on Saturday, granted bail to Jignesh Shah, founder of Financial Technologies India Ltd (FTIL). According to the Enforcement Directorate (ED), Shah, promoter of National Spot Exchange Limited (NSEL), was accused of laundering ill-gotten wealth he made by duping NSEL investors of Rs 5,600 crore by buying private property.

Shah was arrested on July 12 for not cooperating with the ED during the investigation. This was Shah's second arrest in connection with the NSEL fraud. He was earlier arrested by the Economic Offences Wing (EOW) in May 2014 and was later granted bail by High Court.