SC orders status quo in Maha govt SLP challenging HC order

The Supreme Court on Tuesday asked to maintain status quo till the final hearing in the Special Leave Petition (SLP) filed by the Maharashtra government and others, challenging the Bombay High Court order quashing attachment of assets of 63 Moons Technologies Limited under the Maharashtra Protection of Investors Deposits (MPID) Act.

The Maharashtra government had asked for a stay on the Bombay High Court order, which the Supreme Court has refused. The next hearing in the matter is scheduled for November 27.

Last month, the Bombay High Court struck down the Maharashtra government's order for attaching properties worth Rs 2,500 crore of 63 Moons Technologies (formerly Financial Technologies India or FTIL) in the Rs 5,600-crore payment default of 2013 at its then subsidiary, National Spot Exchange (NSEL).

The verdict was a major relief for 63 Moons. On behalf of the state, the attachment was made by the city police's economic offences wing (EOW), which probed the case.IANS