The NSEL Investors Forum has approached Maharashtra Chief Minister Devendra Fadnavis seeking government backing for a proposed ₹1,950 crore settlement plan with National Spot Exchange Ltd. The move aims to resolve a financial crisis dating back to July 2013, affecting thousands of retail investors and traders.
After nearly 12 years of legal efforts and financial distress, a significant breakthrough appears possible for investors caught in the 2013 National Spot Exchange Ltd crisis. A ₹1,950 crore one-time settlement plan, formally submitted under the Companies Act to the National Company Law Tribunal (NCLT) in Mumbai, aims to compensate 5,682 traders based on outstanding dues as of July 31, 2024. A final hearing is scheduled for July 11, 2025, marking a critical step toward closure for affected parties.
In a formal appeal dated June 19, 2025, the NSEL Investors Forum has urged CM Fadnavis to ensure that state authorities such as the Economic Offences Wing (EOW) and other related departments do not take actions that could disrupt or delay the NCLT proceedings. The forum believes that neutral or supportive responses from government bodies are key to ensuring the successful implementation of the settlement.
NSEL’s parent company, 63 Moons Technologies, is backing the settlement proposal and has filed the Scheme of Settlement with the NCLT. This is considered a full and final resolution, initiated by the investor community itself. Notably, this is not 63 Moons’ first relief effort; in August 2013, the firm had disbursed ₹179 crore to benefit 7,053 small investors with claims under ₹10 lakh each.
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The NSEL Investors Forum has requested the appointment of a specialised legal expert in company law to represent the state in the NCLT to ensure the administration’s position supports investor interests. Such a move may prevent hurdles from being introduced unintentionally through bureaucratic channels, further aligning government priorities with equitable resolution for aggrieved traders.
This ₹1,950 crore settlement represents a long-awaited resolution to one of India’s most high-profile financial crises. The outcome of the July 11, 2025, NCLT hearing could offer closure to thousands of traders if supported by the Maharashtra state administration. Coordination between NSEL, 63 Moons, and state authorities is vital to ensure that investor interests are finally addressed.
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Published on: Jun 30, 2025, 2:47 PM IST
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