63 Moons Technologies, formerly known as Financial Technologies India Ltd. (FTIL), has decided to file suits for damages, claiming ₹10,000 crore against former finance minister P. Chidambaram and senior bureaucrats K.P. Krishnan and Ramesh Abhishek for alleged abuse of their powers and mala fide actions against the company.

63 Moons is the parent entity of National Spot Exchange Ltd. (NSEL), which is in the midst of a ₹5,600-crore payment default scam. “The company has decided to file damage suits of ₹10,000 crore against Mr. P. Chidambaram and others, in their individual capacities for taking mala fide actions against 63 Moons by abusing their powers,” the company said in a release.

The company has already filed a criminal complaint against the three individuals with the Central Bureau of Investigation (CBI).

Mr. Abhishek, who is currently a secretary in the Department for Promotion of Industry and Internal Trade, was the chairman of the erstwhile Forward Markets Commission when the scam came out in the open in 2013. The then additional secretary in the Ministry of Finance, Mr. Krishnan is currently the secretary in the Ministry of Skill Development And Entrepreneurship. According to Venkat Chary, chairman, 63 Moons, the three individuals played a “proactive role” in “perpetrating the crisis” by destroying the exchange ecosystem created by 63 Moons in order to favour the competitor – National Stock Exchange (NSE).

“Despite the fact that there is no money trail traced to NSEL, 63 Moons and its founder, by multiple investigative agencies, the group has been singularly targeted as part of a conspiracy,” the release stated.