63 moons technologies limited has issued a clarification to the stock exchanges regarding a publication on Law Text (lawtext.in) dated September 22, 2026. The publication had the heading "Bombay High Court Dismisses Appeals challenging MPID Act Application in NSEL Scam Case – Held that MPID act Applies to NSEL as a Financial establishment and That Default in Repayment of Deposits Attracts Offences Under the Act".
The Company clarifies that the judgment referenced in this publication was actually pronounced by the Bombay High Court on February 7, 2025, making it over one and a half years old at the time of the Law Text publication. The article was shared and circulated through WhatsApp multiple times on September 22, 2026.
The Company states that the Bombay High Court order was in relation to appeals filed by promoters and directors of certain brokers of National Spot Exchange Limited (NSEL) who have been charge-sheeted by the Economic Offences Wing, Mumbai. The order was not related to any challenge to the MPID Act itself.
The Company describes the timing of the publication as "suspect" and states it was published in a "convoluted and misleading manner" that created the impression of a fresh judgment/order against NSEL.
Market Impact
The Company observed significant intraday volatility in its stock price contemporaneously with the circulation of this publication. The Company is examining whether the timing, manner, and dissemination of the article were intended to create a misleading market impression or influence the Company's stock price.
Potential Actions
The Company is contemplating initiating appropriate legal action against the persons responsible for the publication and dissemination of the article, taking into account relevant legal and regulatory requirements.
Investor Guidance
The Company reiterates that investors and market participants should rely exclusively on disclosures made by the Company through recognized Stock Exchanges for information concerning the Company and its affairs. This clarification is being issued to maintain transparency and ensure investors are not misled by stale or incorrectly presented information.