 "No immediate HC relief for Jignesh Shah's company")
The Bombay High Court today rejected the plea of the Jignesh Shah-promoted 63 Moons Technologies Ltd (formerly FTIL) seeking a stay on attachment of its immovable assets worth Rs 2,000 crore by the Economic Offences Wing of Mumbai Police.
EOW has attached the assets in connection with the NSEL scam. Shah was arrested in the case earlier this month.
Refusing interim relief in the form of stay, a division bench headed by Justice Abhay Oka said there was no urgency and the company should approach a regular bench on July 25 when the matter is scheduled for hearing.
Last week, the special court for Prevention of Money Laundering Act cases here sent Shah to judicial custody till August 1.
EOW has attached the assets in connection with the NSEL scam. Shah was arrested in the case earlier this month.
Refusing interim relief in the form of stay, a division bench headed by Justice Abhay Oka said there was no urgency and the company should approach a regular bench on July 25 when the matter is scheduled for hearing.
Also Read
The company had sought a stay on the attachment in the interest of its around 63,000 shareholders and about 1,000 employees. EOW's action was illegal, it argued.
Last week, the special court for Prevention of Money Laundering Act cases here sent Shah to judicial custody till August 1.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%