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The National Company Law Appellate Tribunal (NCLAT) on Tuesday extended the stay on the Chennai bench’s NCLT order of June 4 in the 63 moons technologies (formerly Financial Technologies India Ltd) matter till July 18.
At its hearing in the Capital, NCLAT directed that notices be issued to all the parties concerned and fixed July 18 as the next date of hearing on the matter. It may be recalled that NCLAT had, on June 27, stayed the order of the Chennai bench of NCLT in the 63 moons technologies matter. It then fixed July 3 as the date of hearing on this matter.
Both the Central Government and 63 moons had approached the NCLAT against the NCLT order and requested a stay. In the wake of the current stay on the NCLT order, no Government nominee can be appointed as a director on the board of 63 moons.
In the June 4 order, the Chennai NCLT bench had dismissed the Centre’s plea to take over the board of 63 moons technologies. However, the NCLT had allowed the Government to nominate a maximum of three directors.
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