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No Immediate Court Relief For Jignesh Shah-Promoted Company

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No Immediate Court Relief For Jignesh Shah-Promoted Company

Jignesh Shah was arrested earlier this month over the NSEL scam.


Mumbai: The Bombay High Court on Wednesday rejected the plea of the Jignesh Shah-promoted 63 Moons Technologies Ltd (formerly FTIL) seeking a stay on attachment of its immovable assets worth Rs 2,000 crore by the Economic Offences Wing of Mumbai Police.

EOW has attached the assets in connection with the NSEL scam.

Mr Shah was arrested in the case earlier this month.

Refusing interim relief in the form of stay, a division bench headed by Justice Abhay Oka said there was no urgency and the company should approach a regular bench on July 25 when the matter is scheduled for hearing.

The company had sought a stay on the attachment in the interest of its around 63,000 shareholders and about 1,000 employees. EOW's action was illegal, it argued.

Last week, the special court for Prevention of Money Laundering Act cases here sent Mr Shah to judicial custody till August 1. 


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