A Mumbai court operating under the Prevention of Money Laundering Act has granted approval for the liquidation of seized assets tied to the National Spot Exchange Limited payment default case, the Enforcement Directorate announced. Assets valued at upwards of Rs 3,400 crore have received approval to proceed with monetisation.
According to a statement released by the ED, the court order was issued on 8 October. Under the same ruling, a payment of up to Rs 1,950 crore drawn from monetisation proceeds was allocated to 63 Moons Technologies Ltd, which the Enforcement Directorate identified as holding assignee status on behalf of 5,682 specified creditor-investors. Adjudication of the outstanding assets is set to follow at a later session of the tribunal.
Properties valued at Rs 3,464 crore were frozen across 35 separate enforcement orders, according to the agency. Those property seizures came about after the agency opened its money laundering investigation in 2015.
Under the Prevention of Money Laundering Act, seized assets can be returned to those who suffered financial harm, whether proceedings are still under way or have already concluded.
A repayment arrangement sanctioned by the National Company Law Tribunal's Mumbai bench formed the basis of the plan the ED tied its approach to. A restructuring proposal put forward under the Companies Act received approval from the NCLT during November 2025. Under the arrangement, a single lump-sum payment of Rs 1,950 crore was made available to eligible parties. The proposal drew backing from just over nine-tenths of those holding creditor status.
Creditors stand to recover roughly 42 per cent of their verified claims under the restructuring arrangement that received tribunal approval through the NCLT process. Investors who took positions in these assets have been waiting on a recovery since 2013, a period now spanning more than twelve years.
Under the Maharashtra Protection of Interest of Depositors in Financial Establishments Act, a portion of the holdings have been placed under attachment. Any proceeds from asset sales will be handled through a process that involves the Competent Authority designated under the relevant legislation. A ruling on the remaining assets is expected at a later date.
Proceedings at the agency level trace back to a first information report lodged with Mumbai's MRA Marg police station in 2013. The charges held that trading in those commodities lacked any physical inventory to back the positions taken. Around 13,000 investors were left exposed when the payment obligation went unmet, with unpaid dues at that point carrying a combined value placed at Rs 5,600 crore.
The ED indicated that pursuit of assets connected to financial crimes would remain an active priority, with money-laundering investigations forming part of its work alongside efforts to direct compensation to qualifying investors and those filing claims. Any assets that remain attached will have their fate decided by the special court through a separate ruling at a later point.
