SAT places SEBI order in Abeyance in 63 moons STP Gate case

The Hon'ble Securities Appellate Tribunal(SAT) on Monday heard the 63 moons technologies limited' challenge to Securities and Exchange Board of India (SEBI) order disallowing the Company from providing STP Gate Services and has reserved the judgment. While passing the order the Hon'ble Tribunal has kept the SEBI Order in abeyance.

This in effect means that till the passing of the final decision by the Hon'ble Tribunal, the SEBI Order will remain ineffective. We are hopeful of justice being delivered.

The SEBI, on December 3, 2020 has passed an order rejecting the approval to 63moons for providing STP Gate Services on the basis of 'Fit &Proper' order that was passed by Forward Markets Commission (FMC) seven years ago.

Shares of 63 Moons Technologies Ltd was last trading in BSE at Rs.79 as compared to the previous close of Rs. 80.2. The total number of shares traded during the day was 13699 in over 728 trades.

The stock hit an intraday high of Rs. 81.75 and intraday low of 78.4. The net turnover during the day was Rs. 1098527.

Source : Equity Bulls

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