The Enforcement Directorate of Mumbai attached Financial Technologies’ (now known as 63 moons technologies) investments worth ₹306.70 crore in mutual funds.
The company, which promoted the scam-tainted National Spot Exchange, has been under tremendous pressure since the spot exchange failed to settle trades worth ₹5,600 crore in 2013.
FTIL, in a filing to stock exchange on Thursday, said it has received a provisional attachment order from the Directorate of Enforcement, Mumbai, attaching mutual funds amounting to ₹306.70 crore.
The company is taking appropriate steps in consultation with its legal counsel, it added.
Earlier this week, the Central Bureau of Investigation arrested FTIL promoter Jignesh Shah for allegedly cheating and suppressing facts to get SEBI to renew the MCX Stock Exchange licence to conduct trades in currency derivatives in 2009-10.
The CBI also alleged that MCX-SX, a group company, had entered into a buyback arrangement with some financial institutions in violation of the Securities Contract Regulation Act, 1956, and had suppressed this fact while applying for extension of its licence to operate in currency derivatives. On its part, FTIL moved Bombay High Court against the possible attachment of its properties by Enforcement Directorate.
Earlier attachmentIn July, the Economic Offences Wing of Mumbai police attached immovable assets of FTIL, including its headquarters in Mumbai and bank accounts worth ₹2,000 crore, putting its survival at risk. However, last month the Bombay High Court allowed the company to access its accounts for paying employee salaries and meeting other routine expenses.
Interestingly, shares of the company were up 5 per cent at ₹86 on Thursday even after it announced the latest development on mutual fund asset attachment by ED.