- All
- Important
- Financial Update
- Fund Raise
- Board Meeting
- Dividend/Bonus
- JV/Acquisition
- Investor Meet
- Insider Trade
- Pledging
- Others
Loading...
The 63 Moons Board has approved a One-Time Settlement (OTS) of ₹1,950 Crore proposed by the NSEL Investors Forum, which represents many traders who previously engaged with the National Spot Exchange. The settlement has garnered overwhelming support from the traders, allowing for legal action to finalize the process. This OTS will involve the closure of specific legal proceedings against the company and the assignment of traders' claims to 63 Moons for recovery actions against defaulters.
To facilitate this settlement, the Management has been authorized to engage legal advisors for swift action. Significant timelines have been set, with a draft settlement scheme due by mid-January 2025, followed by a review period, and the plan expected to be filed with the judicial forum by mid-February 2025. The approval of this OTS could positively impact the company by potentially resolving outstanding legal issues and aligning interests with affected traders. Investors should watch this development closely for its implications on the company's financial health.