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63 Moons Technologies Ltd.

BSE: 526881 Sector: IT
NSE: 63MOONS ISIN Code: INE111B01023
BSE 15:53 | 27 Mar 2018 63 Moons Technologies Ltd
NSE 05:30 | 01 Jan 1970 63 Moons Technologies Ltd

Financial Technologies (India) Ltd reply to clarification sought by the exchange

March 4, 2015, 2:55 pm | Source: BSE

The Exchange had sought clarification from Financial Technologies (India) Ltd with respect to news article appearing in CNBC TV 18 on March 03 2015 titled Sources On Fin Tech Cant Make 3rd Party Rights On Assets W/o Prior EOW Nod and news article appearing in Economic Times on March 03 2015 titled More Trouble for FTIL?

Financial Technologies (India) Ltd replied stating We wish to inform you that we are in receipt of a letter from Economic Offences Wing Mumbai (EoW) in connection with the ongoing investigation No. EOW CR No.89 of 13 seeking certain information and inter-alia states the following:

a) During the course of investigation it is revealed that FTIL had received Rs.84 crores from NSEL which is investors money and directed to earmark this amount and furnish the particulars of Bank Account wherein this amount is deposited. On this it is hereby clarified that Rs.84 crores received from NSEL by FTIL is towards technology software software maintenance & support services rendered by FTIL to NSEL and is not the so called Investors money. Further without prejudice to its rights and contention besides investment of Rs.57 crores as Equity Share Capital in NSEL FTIL has provided to NSEL Rs.179.4 crores as a Bridge Loan which has been utilized by NSEL for paying the small investors in full whose dues were upto Rs.2 lakhs and 50% of the amount to those whose dues were between Rs.2 lakhs and Rs.10 lakhs

b) Not to dispose of alienate encumber part with possession of or create any third party right title and/or interest in to upon or in respect of any of assets of Financial Technologies (India) Limited its subsidiaries and its step down subsidiaries except for the payment of statutory dues amounts for the preservation maintenance and protection of their assets and wages and salaries under intimation to the Investigating agency and in the case of immovable properties without the orders of the trial Court.

The Company is seeking legal advice on the aforesaid letter from EOW.