63 Moons

'One more time', 'last time', 'third time' and 'wish them good luck'

MCX shall not be entitled to receive any support on the Exchange Technology software after September 30, 2022, if the trading or settlement system halts for any reason, it said

The NCLAT on Thursday ordered the petition to be considered by the Committee of Creditors (CoC).

The Supreme Court on Monday refused to stay the implementation of DHFL Resolution Plan on the plea filed by 63 moons technologies and directed the NCLAT to hear the issue expeditiously.

The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued notices to DHFL's lenders and its winning bidder Piramal Capital over a petition filed by 63 Moons Technologies challenging the resolution process of the debt-ridden firm. A two-member bench comprising its Officiating Chairperson Justice A I S Cheema and Member Alok Srivastava issued notices to the lenders of Dewan Housing Finance Corporation Ltd (DHFL) and its successful bidder Piramal Capital & Housing Finance Ltd. The appellate tribunal has directed all parties to file their replies before July 19, which is the next date of hearing. Earlier on June 7, the Mumbai bench of the National Company Law Tribunal (NCLT) had approved the resolution plan of Piramal Capital & Housing Finance Ltd for the debt-ridden DHFL. 63 Moons, which is a debenture holder of DHFL, has filed a petition challenging the NCLT order. It holds non-convertible debentures (NCDs) worth over Rs 200 crore issued by DHFL. According to it, the

63 moons believes that the resolution plan is against interest of all DHFL's creditors, including NCD holders

Sebi said that 63 Moons has been offering STP services without its approval

63 Moons has filed a writ petition before the Madras High Court seeking attachment of assets belonging to DHFL, Wadhawan said in the letter

Generally, financial firms use STP to pass information electronically in order to optimise the speed at which they process transactions

63 Moons had filed civil and criminal cases against DHFL and Wadhawans, accusing them of fraud and siphoning off money

The move comes a day after the National Stock Exchange announced that it would discontinue NOW trading platform from mid-September

MCX is considering interim measures to handle negative pricing on Nymex and the impact on its platform

63 Moons, which had subscribed to the non-convertible debentures (NCD) of DHFL, approached the court after the company failed to repay the money.

The SC will hear the case on 27 November. However, the apex court has said that status quo will continue

Says total attached properties' value is Rs 85.48 bn against defaulted amount of Rs 56 bn, further attachment is 'arbitrary'

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 ...