NSEL case: 63 Moons properties cannot be attached under MPID Act, Bombay HC

NSEL case: 63 Moons properties cannot be attached under MPID Act, Bombay HC

In a setback to the Maharashtra government, the Bombay High Court yesterday set aside seven notifications issued by the Home Department last year to attach the properties of 63 Moons Technologies, promoter of National Spot Exchange Limited (NSEL), under Section 4 of the Maharashtra Protection of Interests of Depositors (In Financial Establishments) Act (MPID Act).

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