The Supreme Court of India on Tuesday set aside the central government’s decision to merge National Spot Exchange Ltd (NSEL) with Financial Technologies India Limited (FTIL), now known as 63 Moon Technologies Limited...
NSEL case: SC refuses to intervene over attachment of FTIL’s assets
The Supreme Court on Wednesday refused to intervene in the Bombay high court order staying notifications for attachment of assets of Financial Technologies India Ltd (FTIL), now known as 63 Moons Technologies, in the...
Supreme Court to hear FTIL-NSEL merger on April 18
The Supreme Court has extended a stay on the Bombay High Court order to merge the National Spot Exchange Ltd (NSEL) with FTIL till the next hearing, scheduled for April 18. The high court had on December 4 last year...
FTIL moves Supreme Court against NSEL merger order
Financial Technologies India Ltd (FTIL), now known as 63 Moons Technologies, has moved the Supreme Court against the Bombay high court’s order which allowed the government to force the merger of National Spot Exchange...
Tata Sons conversion to Pvt Ltd no act of oppression: Tata Counsel at NCLT
Mistry was removed as the chairman of Tata Sons on 24 October 2016. Since his removal, the two sides have been locked in a bitter legal warfare. In December 2016, Mistry family’s investment firms filed a petition at...
Two Mistry firms’ counsel submit documents to NCLT to prove mismanagement
Two Mistry family firms on Tuesday presented to the Mumbai Bench of the National Company Law Tribunal (NCLT) what they referred to as “documentary evidence” to prove “mismanagement” at Tata Sons. The NCLT was hearing a...
Ericsson ropes in CDB counsel Darius Khambata in fight against RCom
Equipment maker Ericsson has roped in senior counsel Darius Khambata to represent it in its insolvency petition against Reliance Communication (RCom) at the National Company Law Tribunal (NCLT). Khambata is also...
RCom says in settlement talks, CDB counsel denies move
Reliance Communications (RCom) on Wednesday insisted it was negotiating a settlement with China Development Bank, one of its largest creditors, even as the Chinese government banker sought to club its insolvency...
Raymond buys joint venture partner’s stake in JK Ansell, owner of KamaSutra brand
Textile major RaymondBSE 6.25 % has acquired remaining 50 per cent stake in joint venture JK Ansell in an effort to scale up its consumer products business and take its key brand KamaSutra globally. As part of the deal...
Four banks withdraw opposition to NSEL-parent merger
Four years ago this week, thousands of investors in India were shattered to discover that they were victims of a huge fraud at commodity bourse National Spot Exchange (NSEL). The exchange went kaput, arrests and...
63 Moons Technologies to invest Rs 50 crore in scam-hit NSEL
63 Moons Technologies, formerly known as FTIL, will invest Rs 50 crore every year for the next three years in its subsidiary, the National Spot Exchange (NSEL). FTIL had come under the regulatory scanner few years ago...
Bombay HC hears arguments against NSEL merger order
Section 396 of the Companies Act 1956 cannot be applied for the merger of a sick company with a healthy one in public interest, especially when such amalgamation results in erosion of net worth of the healthy company...