Will take appropriate steps in insider trading case: 63 Moons

New Delhi, Aug 3 () 63 Moons Technologies, formerly known as

Financial Technologies India Ltd

, today said it will take "appropriate" steps as per the advice of its legal counsel in the matter related to insider trading in the company's shares. Some of the current promoters of 63 Moons figure among those charged by markets regulator

Sebi

of averting losses through alleged insider trading in

FTIL

shares with 'prior information' about the

National Spot Exchange Ltd

(

NSEL

) case. The spot exchange, promoted by FTIL, had to suspend trading on July 31, 2013 after a major payment crisis broke out at the bourse. Subsequently, a number of regulators and enforcement agencies launched their probes into the NSEL case. "We wish to inform that the company will take appropriate steps, if required, as per the advice of the legal counsel of the company," 63 Moons said in a regulatory filing. "As a responsible corporate and as a matter of good corporate governance practice, any price sensitive information pertaining to operation or performance of the company, any definite decision or announcement or such other information as required... under Sebi (Listing Obligation and Disclosure Requirements)...will be first notified to the stock exchange to comply with the regulation," the company said. The response came in the wake of BSE seeking clarification from the company with respect to "Sebi order-in the matter of the insider trading in the scrip of 63 Moons Technologies" Similar clarification has been sought from

Multi Commodity Exchange of India Ltd

(MCX). In an order passed yesterday, markets regulator Sebi impounded averted losses totalling Rs 125 crore through alleged insider trading in MCX and its erstwhile promoter FTIL by 13 persons with 'prior information' about the NSEL case. These 13 persons included some of the current promoters of 63 Moons. Shares of 63 Moons today ended 1.75 per cent lower at Rs 61.75 on BSE. Intra-day, it declined 2.62 per cent to Rs 61.20. MCX also fell by 0.69 per cent to Rs 1,105 at close. During the day, it lost 1.14 per cent to Rs 1,100. SP SUM ABM
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