63 Moons serves legal notices to Chidambaram, 2 civil servants; to seek Rs 10,000 cr damages

63 Moons Technologies Monday said it has served legal notices to Congress leader P Chidambaram and two civil servants informing them of the company's intention to move court to seek damages worth Rs 10,000 crore in connection with the NSEL scam.

Formerly known as Financial Technologies Ltd (FTIL), 63 Moons and some of its former executives, including founder Jignesh Shah, are under the scanner of multiple probe agencies regarding the Rs 5,600 crore payment scam at the now defunct National Spot Exchange Ltd (NSEL).

Against this backdrop, 63 Moons chairman Venkat Chary Monday said legal notices have been served to Chidambaram, former Additional Secretary at the Finance Ministry K P Krishnan and former Forward Markets Commission (FMC) Chairman Ramesh Abhishek for allegedly destroying the ecosystem and causing huge damage to the company's shareholders.

Chidambaram was finance minister when the NSEL crisis came to light in late 2013. While FMC has since been merged with markets regulator Sebi, Abhishek is presently Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT). Krishnan is currently the Skill Development and Entrepreneurship Secretary.

Speaking to reporters here, Chary said the company has also filed a criminal complaint with the CBI against the three individuals for allegedly taking "malafide actions against 63 Moons by abusing their powers".

Chary claimed that the three individuals allegedly played a proactive role in
"perpetrating the crisis, destroying the exchange ecosystem created by the FTIL in order to favour competitor National Stock Exchange (NSE) resulting in huge damages to the shareholders of 63 Moons Technologies..."
Further, he alleged that Abhishek was "aware of the role of brokers and traders but acted in a partisan manner only against NSEL and its parent company."