The Bombay High Court has set November 24 as the next hearing date in the NSEL-FTIL merger case.

This would mean that the existing stay on the Corporate Affairs Ministry’s final merger order would now be valid till November 24, sources said.

The Corporate Affairs Ministry had in February issued the final order for the merger of scam-hit National Spot Exchange Ltd (NSEL) with Financial Technologies Ltd (FTIL), which has now been renamed as 63 moons technologies.

FTIL had challenged this final merger order before the Bombay High Court.

The Bombay High Court had earlier kept this order in abeyance till September 26. NSEL is almost entirely owned by FTIL.

srivats.kr@thehindu.co.in

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