HC relief to 63 moons: EOW attachment

Mumbai: The interim relief to 63 moons technologies limited (formerly known as FTIL) in connection with the MPID matter was granted by the Hon’ble Bombay High Court on Wednesday.
The Honourable Court stayed various notifications issued in April 2018, attaching the Company’s properties and bank accounts.
The Court also stayed the attachment of ODIN software and its receivables. The Honourable Court specifically stayed portions on the September 2018 notification, which would now allow 63 moons to continue to receive accrued benefits on its investments in a periodic basis.
Advocates Mukul Rohtagi and Abad Ponda, arguing on behalf of 63 moons in the case, pointed out that none of the defaulters’ bank accounts were attached by the EOW (Mumbai), despite the entire money trail of Rs 5,600 crore in the NSEL case being established by the agency to 24 entities. They successfully argued that despite around Rs 8,000 crore worth of assets being attached by the EOW in the case, freezing and attaching of 63 moons’ salary accounts and ODIN intellectual property was tantamount to undue harassment, targeting and strangling of the Company.
“We have immense faith in the judiciary and our stand is vindicated. We thank all our employees, Board of Directors and the Mentor for having stayed united during this challenging period and also leading us in pursuing judicial remedy”, the spokesperson for 63 moons technologies limited stated.

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