Creditors Approve Rs 1.950 Crore Resolution Plan for National Spot Exchange Ltd
By Ankur Chandra | Updated at: May 31, 2025 10:43 PM IST
63 Moons Technologies Ltd (BSE: 526881, NSE: 63MOONS) has taken a step forward in bringing closure to the long-running National Spot Exchange Ltd (NSEL) crisis. The company recently announced that the proposed Scheme of Arrangement between NSEL—its subsidiary—and the specified creditors has received overwhelming backing. The scheme includes a one-time settlement (OTS) worth ₹1,950 crore, which will be distributed among 5,682 traders.
Strong Support from Creditors
After the Mumbai bench of the National Company Law Tribunal (NCLT) issued an order on April 8, 2025, a month-long process of postal ballots and electronic voting was carried out between April 17 and May 17. The final report, submitted by the Scrutinizer on May 19, confirmed that 92.81% of the creditors (by number) and 91.35% (by value) were in favour of the settlement.
Relief Package Worth ₹1,950 Crore
The payout will be calculated based on outstanding claims as of July 31, 2024. Once this settlement is completed, it is expected to close many of the pending legal cases. In addition, creditor rights will be formally assigned to 63 Moons, allowing the company to move forward with a clean slate.
Details of the Payout
This is not the first round of relief offered in connection with the NSEL crisis. Back in 2013, ₹179 crore was distributed to around 7,053 small traders who had claims of up to ₹10 lakh—those traders received full payouts.
Under the new scheme, traders with higher claim amounts will receive a settlement ranging from 49.3% to 64% of their total dues, when combined with any past payments already made.
| Category | Total Traders | Past Payment (%) | New Settlement (%) | Total Payout (%) |
| Up to ₹10 lakh | 7,053 | 100% | N.A. | 100% |
| Above ₹10 lakh | 5,682 | 7.3% – 37% | 42% | 49.3% – 64% |
Management Commentary
Neeraj Sharma, Managing Director and CEO of NSEL, credited the NSEL Investors Forum (NIF) for taking the lead in negotiations and ensuring widespread support from the investor community.
Dr. Sharad Kumar Saraf, Chairman of NIF, highlighted the importance of this collective decision, noting, “This reflects the fact that the majority of investors want a practical resolution and are ready to recover a portion of their funds through the settlement.”
Rajendran, MD and CEO of 63 Moons, described the arrangement as “unprecedented” and expressed optimism about its implementation. He also thanked the central and state governments for their support, which has been crucial throughout the process.
Looking Ahead
With the approval of this scheme, 63 Moons is now in a strong position to close this long-pending chapter. The resolution is more than just a legal milestone—it’s a strategic shift that allows the company to focus once again on its technology-driven ventures. The strong support from stakeholders reflects confidence in the way forward, as 63 Moons prepares to rebuild and innovate in the years to come.
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