PMLA court directs ED to monetise NSEL assets, distribute Rs 1,950 crore to 63 Moons under settlement scheme

In a decisive ruling, a special PMLA court has instructed the Enforcement Directorate to sell off properties involved in the NSEL payment default saga. This decision permits 63 Moons Technologies to make a claim of Rs 1,950 crore from the proceeds. However, the distribution of these funds hinges on the occurrence of a settlement trigger event, a process already endorsed by the Supreme Court for swift action.