Bombay high court denies interim relief to the former Financial Technologies (India) Ltd from an order passed by Mumbai police's EOW seizing assets of the company
Mumbai: The Bombay high court on Tuesday denied interim relief to the former Financial Technologies (India) Ltd from an order passed by Mumbai police’s economic offences wing (EOW) seizing assets of the company, renamed 63 Moons Technologies Ltd.
EOW seized 2,000 crore of assets belonging to FTIL on 20 July—both liquid assets such as bank fixed deposits and immovable assets including its Mumbai headquarters.
The Bombay high court, while not granting interim relief, directed FTIL to file a fresh application to release its bank accounts for meeting routine requirements and to pay the salaries of its employees.
Meanwhile, FTIL founder Jignesh Shah’s bail plea could not be heard as the Enforcement Directorate (ED) is yet to file a reply to his appeal for bail.