NSEL case: Bombay HC quashes EOW's move to attach 63moons' properties

Frees ODIN software and interest income accrued on investment

The Bombay High Court on Wednesday quashed the Maharashtra government's move to attach properties worth Rs 3.2 billion of 63moons Technologies (formerly Financial Technologies India) in the Rs 56 billion payment default at its defunct subsidiary National Spot Exchange Ltd (NSEL).

The court stayed various notifications issued in April 2018 attaching 63moons' properties and bank accounts. In particular, the court has also stayed the attachment of ODIN software and its receivables. The court has also stayed a corrigendum issued whereby accrued returns on investments will now become available for 63moons. The court specifically stayed portions of the September 2018 notification,