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NSEL case: Bombay HC raps Maharashtra govt on 63 Moons' property attachment
Says total attached properties' value is Rs 85.48 bn against defaulted amount of Rs 56 bn, further attachment is 'arbitrary'
 "NSEL case: Bombay HC raps Maharashtra govt on 63 Moons' property attachment")
NSEL scam: 63 moons to move Bombay HC for defreezing bank accounts
60 Moons (earlier FTIL) is to challenge at the high court here on Thursday the attachment of its bank accounts and Intellectual Property Rights (IPR) of its ODIN software.The attachment orders, from the city police's economic offences wing (EOW), were a consequence of the long series of probes into the Rs 56-billion in payment defaults in 2013 at the National Spot Exchange (NSEL), of which FTIL was the parent entity."This order has tied our hands and feet, making us unable to fight for justice. Day-to-day legal expenses need to be borne by the company from the operational accounts. Without which we would not be able to protect the rights of our nearly 1,000 employees and 59,000 shareholders. Freezing the operational accounts would not help EOW recover the money from the 24 defaulters at our subsidiary, NSEL," said S Rajendran, managing director of 63 Moons.In September 2016, the EOW had attached Rs 1,800 crore worth of financial investments by 63 Moons. Income interest from these ...
 "NSEL scam: 63 moons to move Bombay HC for defreezing bank accounts")
