Jignesh Shah, founder and chairman emeritus of 63 Moons, formerly known as FTIL. Photo: Abhijit Bhatlekar/MintMumbai: Jignesh Shah-owned 63 Moons, formerly known as Financial Technologies India Ltd (FTIL), will move the Bombay high court in Mumbai against the state government’s directives to freeze the operating accounts of the company. “We will appeal to the Bombay High Court against this, as we cannot pay vendors, our employees salaries, or statutory dues owing to the freezing of these accounts,” S. Rajendran, managing director and chief executive officer of 63 Moons said on Wednesday. In an earlier notification dated 21 September 2016, the government had “clearly mentioned attachment of all Fixed Assets and Investments, and clearly excluded periodical accrued benefits of these investments,” a company statement argued. Further, the EOW-Mumbai has already frozen Rs1,800 crore worth of bonds, which the company claims has no link to proceeds of the crime, it added.

Source: Mint April 11, 2018 13:52 UTC