Setting a precedent for private companies, the Bombay High Court here upheld the order of the Union ministry of corporate affairs (MCA) for a merger of scam-tainted National Spot Exchange Ltd (NSEL) with its parent, 63 moons technologies, earlier named Financial Technologies (India) Ltd). The two-judge bench of Chief Justice Manjula Chellur and M S Sonak rejected the petition of 63 moons against the order; it, however, agreed to a stay on its operation for 12 weeks, for time to appeal.
The company has decided to appeal to Supreme Court. 63 moons' share price closed in ...
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First Published: Mon, December 04 2017. 17:38 IST
