Indian exchange founder blames woes on managers

Jignesh Shah, an entrepreneur from Mumbai, India, who has built a commodity-exchange empire in Asia, the Middle East and Africa, recently ran into trouble with India's Forward Markets Commission. The regulator said the National Spot Exchange, one of Shah's two Indian commodity exchanges, was not allowed to trade futures contracts. Shah said managers at the exchange told him futures trading was in line with the bourse's objectives.

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