Crisis-hit Financial Technologies India (FTIL) said it has received an order from the Enforcement Directorate, Mumbai, attaching securities worth Rs 1,065 crore.
Stepping up action in the Rs 5,600-crore NSEL money laundering case, the Enforcement Directorate had on September 30, 2016, attached assets worth Rs 1,170 crore of FTIL.
The agency had said it has issued a provisional order under the Prevention of Money Laundering Act (PMLA), attaching bonds and securities worth Rs 1,065 crore (Rs 1,140 crore market value) and Rs 30 crore balance kept in a private bank in Mumbai of FTIL, now known as 63 Moons Technologies Ltd.
In a regulatory filing, FTIL today informed that "a provisional attachment order dated September 30, 2016, from the Directorate of Enforcement, Mumbai, has been received by the company on October 3, 2016, attaching certain securities amounting to face value of Rs 1,065 crores in the demat account of the company." The company is taking appropriate steps in consultation with the legal Counsel, it added.
The Enforcement Directorate, Mumbai, had also attached mutual funds amounting to Rs 306.70 crore, FTIL had said on September 22.
FTIL is in crisis following the Rs 5,600 crore payment default at its subsidiary National Spot Exchange Ltd (NSEL) in mid-2013 affecting 13,000 investors.
NSEL's payment troubles started after it was ordered by the then commodity market regulator Forward Markets Commission (FMC) to suspend spot trade in most of its contracts due to suspected violation of trading norms.
The agency had recently made few arrests including that of FTIL founder Jignesh Shah.
Earlier this year, the government had ordered a merger of scam-hit NSEL with its parent FTIL.
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