Jignesh Shah led-63 Moons Technologies had filed a suit against congress leader and former Union Minister Chidambaram demanding Rs 10,000 crore in damages. Meanwhile the former minister, who has been issued summons by the Bombay High Court regarding the suit, has demanded to be provided with a copy of the plaint and also the relevant information from 63 Moons Technologies, which was earlier known as Financial Technologies India Limited (FTIL).
On July 24, the Bombay High Court had ordered that Chidambaram along with two senior bureaucrats should be physically present in the court on October 15 so that they reply to the claims levelled by 63 Moons Technologies. However, as per the court, if the officers were unable to be present in person the they should be represented through their lawyers.
The demand for all relevant information as well as a copy of the plaint that the 63 Moons Technologies had relied upon, was made by Nitesh Jain, lawyer of Chidambaram, on August 14. Meanwhile, commenting on the development, Bhavesh Thakur, lawyer of 63 Moons Technologies, said that as soon as the letter was received, all the relevant documents along with a copy of the suit were dispatched to Chidambaram.
On June 12, the Jignesh Shah-led 63 Moons Technologies had filed the suit against Chidambaram for abusing their powers and indulging in malafide actions against the company. Ramesh Abhishek, the former Chairman of the erstwhile Forwards Market Commission and KP Krishnan, an Additional Secretary in the Finance Ministry during Chidambaram’s tenure as the Finance Minister of India, were also named in the suit. KP Krishnan is currently serving as the secretary of the Ministry of Skill Development and Entrepreneurship. Meanwhile, Ramesh Abhishek is currently working as a Secretary in the Department for Promotion of Industry and Internal Trade.
In 2013, Jignesh Shah was implicated in a Rs 5,600 crore payment scam at National Spot Exchange Limited, which is a subsidiary of the 63 Moons Technologies limited. Meanwhile, the company has maintained that it is facing continuous targeted and malafide actions with regard to the engineered payment default crises. 63 Moons Technologies also maintained that the actions against the company have caused damages to the creation of new jobs and also to the entire exchange eco-system.
The company has maintained that the trio of Chidambaram, Ramesh Abhishek and Krishnan has hatched a conspiracy against it. According to 63 Moons Technologies, despite a probe being ordered by multiple agencies, none of the investigations have been able to find any money trail linked to NSEL, 63 Moons Technologies and Jignesh Shah, the founder of the company.
As a part of the damages suffered by the company, 63 Moons has demanded a payment of Rs 10,000 crore.