MPID Court Rules in Favor of 63 Moons Technologies, Orders Cancellation of Asset Attachment under Settlement Scheme
Mumbai: 63 Moons Technologies Ltd has received a favorable ruling from the MPID Court regarding its ongoing Scheme of Arrangement between NSEL and Specified Creditors for a One Time Settlement (OTS). The court order, dated July 29, 2026, allowed one of the applications filed by the company concerning this arrangement.The company confirmed that the Scheme of Arrangement, which is aimed at providing a One Time Settlement to creditors, had been previously approved by NCLT in Mumbai, as communicated in earlier filings.
In addition to the court's approval of the application, the MPID Court ordered the cancellation of asset attachment related to the company. This action pertains to assets that were attached under Notification dated September 19, 2018, and is subject to the conditions laid out in the specific order issued by the court for effectuating the scheme.
The ruling marks a significant step toward finalizing the OTS process. The company stated that further releases are anticipated in the near future to lead to the final execution of the settlement.
63MOONS Stock Price Movement
The stock of 63 moons technologies limited edged higher on Wednesday, closing with a strong gain of 3.14% to settle at ₹779.35. The company saw significant trading activity during the session, as 375,416 shares were transacted across the market.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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