MPID Court allows 63 moons application, orders cancellation of asset attachment

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63MOONS · price

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Price reactionminutes from the announcement price · days from the prior close

+8.9%Reaction day

₹780.35

prior close

₹790.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.6%+9.5% vs market

Computers - Software & Consulting peers, median of 63sector-0.4%+9.3% vs sector

On the reaction day the stock moved 9.5 pts more than Nifty Microcap 250 and 9.3 pts more than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.5

10m

-1.3

15m

-1.4

30m

+0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+8.9-0.6+9.5-0.4+9.3

Next day

+21.0+0.5+20.5-0.3+21.3

+14.8+1.9+13.0+0.9+13.9

+10.2+2.3+7.9+0.3+9.9

+10.3+3.6+6.6+0.0+10.3

+10.1+4.0+6.1+0.5+9.5

+10.2+4.0+6.2+0.9+9.3

15d

-1.3+4.9-6.2-2.8+1.5

-0.2+5.9-6.1-3.7+3.5

+3.6+4.8-1.2-8.4+12.0

+20.8pendingpending-12.1+32.9

UpDownMarket · Nifty Microcap 250Sector · Computers - Software & Consulting peers, median of 63Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

MPID Court Mumbai allowed 63 moons' application for effecting the Scheme of Arrangement between NSEL and Specified Creditors for a One Time Settlement. Court ordered cancellation of asset attachment made under a 2018 notification, subject to conditions in the order. The scheme was earlier approved by NCLT Mumbai. More releases expected in the near future to execute the final OTS.

Likely market impact

Positive for shareholders — removal of asset attachment is a relief and a key step toward finalizing the One Time Settlement with NSEL creditors.