Sebi yet to express view on DMA; experts say that with brokers being bypassed, the burden of risk will have to be borne by exchanges
Reserve Bank of India's strong comments in the Madras High Court affidavit that no one can blame it for losses in Yes Bank’s AT1 bonds will hurt investor faith in these financial instruments.
The company, earlier known as Financial Technologies (India), filed a lawsuit against RBI and Yes Bank for ‘misuse’ of the investment by ‘promise of good returns’
The Appellate court upheld the NCLT Chennai order refusing to fully change the boards’ composition and said the Centre can nominate three directors to the board of 63 Moons
The order came on a petition filed by 63 Moons Technologies seeking recovery of dues of around Rs 200 crore from DHFL.
The attachment was made as part of the Mumbai police's probe into the alleged Rs 5,600-crore NSEL scam.
The high court, on July 24, directed Chidambaram and two bureaucrats to remain present in person or through their lawyers on October 15 to respond to the claims made by the firm, formerly known as Financial Technologies Ltd.
The company filed the suit on June 12 before the high court against Congress leader Chidambaram and bureaucrats K P Krishnan and Ramesh Abhishek, accusing them of taking 'malicious and malafide' action against it.
Formerly known as Financial Technologies Ltd (FTIL), 63 Moons and some of its former executives, including founder Jignesh Shah, are under the scanner of multiple probe agencies regarding the Rs 5,600 crore payment scam at the now defunct National Spot Exchange Ltd (NSEL).
Rajendran, MD & CEO of 63 Moons Technologies stated that 63 moons continues to remain a significant shareholder in Atom Technologies.
A two member bench headed by Chairman Justice S J Mukhopadhaya stayed the order passed by the Chennai bench of the National Company Law Tribunal (NCLT) and directed to list the matter on July 3 for next hearing.
The National Spot Exchange Ltd (NSEL), promoted by FTIL, had to suspend trading on July 31, 2013 after a major payment crisis broke out at the bourse.
Tata Motors | Mahindra & Mahindra | Cipla | Marico | Tata Global Beverage | RPG Life | Cummins India | Apar Industries | Oricon Enterprises | Teamlease | NHPC and Sona Koyo are stocks, which are in the news today.
The agency's zonal office here issued provisional orders under the Prevention of Money Laundering Act (PMLA) against Financial Technologies Limited (FTIL), now known as Ms 63 Moons Technologies Limited.
Crisis-hit 63 Moons Technologies today reported a sharp increase in net profit to Rs 28.43 crore for the quarter ended September 30, 2016.
In a BSE filing, the company said, "Our subsidiary FT Group Investments Pvt Ltd (FTGIPL) Mauritius has entered into an amended SPA (Share Purchase Agreement) with CAHL for sale of its 100 percent stake in Bourse Africa Ltd (BAL), Mauritius for USD 10.50 million."
EOW has attached the assets in connection with the NSEL scam. Shah was arrested in the case earlier this month.
The EOW of Mumbai police on Tuesday attached assets of FTIL, under the Maharashtra Protection of Interest of Depositors Act (MPID) Act.
The company, in a statement here, said it had learnt about the attachment of properties through a letter written by EOW to them today.