The Bombay High Court today rejected Financial Technologies Ltd.'s challenge against action taken by the Mumbai Police's Economic Offences Wing. Financial Technologies, now known as 63 Moons Technologies Ltd, had moved the high court against the EOW's assets attachment notice.
EOW sources said that they had secured properties including FTIL's office space in Andheri, and vehicles, bank accounts, bonds, mutual funds and other investments.
This means that the owner has been notified that these properties are under scrutiny and cannot be transacted upon. The government will have to issue a notification before these assets become formally attached.
The Bombay High Court will hear the matter on July 25.
The EOW on Tuesday seized Rs 2,000 crore of assets belonging to FTIL, a week after the arrest of its founder Jignesh Shah in a money laundering case.
The assets were seized under the Maharashtra Protection of Interest of Depositors Act (MPID Act).
Also Read:
Mumbai Police Attaches Properties of Financial Technologies
Jignesh Shah Sent to Judicial Custody Till August 1
Jignesh Shah Assisted NSEL Defaulters in Laundering Money: Enforcement Directorate
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