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63 Moons Tech sets up investment panel to protect Rs 2,000 cr cash

Shareholders will see impact of the new initiatives in next two fiscal years

T E Narasimhan  |  Chennai 

63 Moons Technologies, formerly Financial Technologies (India), has set up an investment committee and has a new policy to protect the company’s wealth. The company, which is sitting on around Rs 2,000 crore cash after selling its stakes in various firms, said it was looking at debt instruments to boost treasury income. Addressing the company’s shareholders on Tuesday, Prashant Desai, MD and CEO, 63 Moons Technologies, said the priority was to protect the value and wealth of the company.  After the alleged payment default at one of its subsidiaries three years ago, 63 ...

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First Published: Wed, September 28 2016. 00:27 IST
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