NSEL money laundering case: ED says Mumbai PMLA court okays monetisation of Rs 3,400 crore assets

The Enforcement Directorate said a special PMLA court in Mumbai has permitted the monetisation of attached assets in the National Spot Exchange Limited payment default-linked money laundering case. The agency said the assets cleared for monetisation are worth more than Rs 3,400 crore. The court order was issued on October 8, according to the ED statement.

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As part of the same order, the court directed that up to Rs 1,950 crore from the monetisation proceeds will be paid to 63 Moons Technologies Ltd. The ED said 63 Moons Technologies Ltd is acting as the assignee of 5,682 specified creditors investors. The agency added that the special court will take up the remaining assets later.

PMLA court order in NSEL case allows asset monetisation

The ED said it has attached properties worth Rs 3,464 crore through 35 separate orders. The agency said these attachments were made after it registered the money laundering case in 2015. It also noted that the Prevention of Money Laundering Act allows assets to be restored to victims. This can happen during the trial or after it ends.

The ED linked the repayment plan to an arrangement cleared by the National Company Law Tribunal, Mumbai bench. It said the NCLT sanctioned a scheme under the Companies Act in November 2025. The scheme provided a one-time settlement of Rs 1,950 crore. The ED said more than 92 per cent of creditors approved it.

NSEL case settlement plan and investor recovery details

Under the NCLT-approved scheme, each creditor is assured a minimum recovery of about 42 per cent. The ED said this is based on verified claims. The agency presented the court order as a move towards returning funds. It said investors have been waiting for recovery for 13 years since 2013.

The ED also said some properties are attached under the Maharashtra Protection of Interest of Depositors in Financial Establishments Act. Because of this, the agency said monetisation will be done in consultation with the Competent Authority under that law. The ED did not provide a schedule for the process. It said the court will decide on other assets later.

ED investigation in NSEL case began from 2013 police FIR

The agency said its case began with an FIR by Mumbai police at MRA Marg police station in 2013. The allegations said commodities were traded without actual underlying stocks. The ED said the payment default affected about 13,000 investors. It said outstanding dues were estimated at Rs 5,600 crore.

The ED said it will continue to trace and secure assets tied to financial crimes. It said it will pursue money laundering cases and support restitution to eligible investors and claimants. The agency added that further decisions on remaining attached assets will be taken by the special court at a later stage.

With inputs from PTI