Legal30 Jul 2026, 08:45 am
63 Moons: MPID Court allows NSEL Scheme of Arrangement for OTS
AI Summary
63 Moons Technologies Ltd has received a significant court order from the MPID Court, Mumbai, dated July 29, 2026. The order allows one of the company's applications for a Scheme of Arrangement between NSEL and Specified Creditors, aimed at facilitating a One Time Settlement (OTS). This follows the NCLT, Mumbai's approval of the scheme, as previously informed on November 28, 2025. The court's decision includes the cancellation of attachment on the company's assets, subject to conditions outlined in the order. Further releases are anticipated to finalize the OTS execution. This development is a crucial step towards resolving outstanding matters related to NSEL.
Key Highlights
- MPID Court allows NSEL Scheme of Arrangement for One Time Settlement.
- Court orders cancellation of attachment on company assets.
- Scheme of Arrangement previously approved by NCLT, Mumbai.
- Further asset releases expected to finalize OTS.
- Positive step towards resolution of NSEL-related matters.
Price Impact
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