63 Moons Shares Jump 16% as NSEL Settlement Scheme Gets NCLT Approval

Shares of 63 Moons rallied 16% on November 28 after the National Company Law Tribunal (NCLT) cleared the National Spot Exchange (NSEL) settlement plan, opening the path for a long-pending resolution and financial closure of the 12-year dispute. The stock traded at ₹909 around 12:05 pm, marking its fourth consecutive session of gains. Trading volumes touched 4.5 million shares, nearly 40 times the 30-day average. The tribunal’s approval effectively signals the final closure of the prolonged NSEL crisis, with the likelihood of multiple legal proceedings against the company being withdrawn. Under the approved settlement framework, ₹1,950 crore will be allocated among 5,682 investors, proportionate to their outstanding claims as of July 31, 2024. The exchange noted that 92.81% of claimants by number and 91.35% by value supported the one-time settlement during the voting process, describing it as a significant relief for market participants whose funds have remained stuck since the July 2013 payment default. Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.