NCLT clears ₹1,950 crore payout for NSEL crisis traders
Big news for thousands caught in the 2013 NSEL payment mess: India's National Company Law Tribunal has greenlit a one-time ₹1,950 crore settlement for 5,682 affected traders.
Payments will be made based on what each trader was owed as of July 31, 2024.
The move also wraps up all related lawsuits and hands over traders' rights to the parent company, 63 moons technologies.
Most traders just want closure
An overwhelming majority—over 92%—of traders backed this deal. After years of waiting, it's a relief to see real progress.
Investors clearly felt hopeful too; shares of 63 moons jumped nearly 19% right after the announcement.
Ending a saga that dragged on for over a decade
This deal finally closes the book on a messy 12-year legal fight sparked by a massive ₹5,600 crore payment crisis that affected thousands of traders back in 2013.
Earlier efforts gave some help to smaller investors, but this settlement—pushed by the NSEL Investors Forum and supported by both central and state governments—brings long-awaited closure for many who've been stuck in limbo.