India, March 31 -- Appellate tribunal NCLAT on Monday set side an appeal by state-owned trading firm MMTC, challenging the one-time settlement (OTS) between 63 Moons-backed National Spot Exchange Ltd (NSEL) and traders.

The Mumbai bench of the National Company Law Tribunal had on November 28, 2025, approved a Rs 1,950-crore settlement scheme between NSEL, along with its promoter 63 Moons, and traders who had dues aggregating nearly Rs 4,300 crore.

The scheme was challenged by MMTC before the National Company Law Appellate Tribunal (NCLAT), saying it is "prejudicial to the public interest" and opposed to the public policy.

During the course of the hearing, the NCLAT pointed out that the said National Company Law Tribunal (NCLT) order of...