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NCLAT stays order on appointment of govt nominated directors to 63 Moons

This interim relief came after the corporate affairs ministry and the company had appealed against the NCLT's decision disqualifying the three directors the government had appointed

NCLT, IBC
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Illustration: Binay Sinha

Veena Mani New Delhi
Staying a decision by the National Company Law Tribunal (NCLT), the National Company Law Appellate Tribunal (NCLAT) has ruled that government representatives on the board of 63 Moons Technologies Ltd (earlier FTIL) will continue to have veto powers on the company’s financial decisions. This has given the ministry of corporate affairs interim relief.
 
However, 63 Moons see this judgment as a stay on government appointing nominees on its board.
 
This interim relief came after the corporate affairs ministry and the company had appealed against the NCLT’s decision disqualifying the three directors the government had appointed.
 
The appellate

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First Published: Jun 28 2018 | 12:34 AM IST

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