63 Moons Technologies' Workers protest after EOW freezes company’s operational accounts

The company's Senior Vice President Mahmood Vaid asserted that they respect the law and expect a fair trial.

63 Moons Technologies' Workers protest after EOW freezes company’s operational accounts

63 Moons Technologies, earlier knows as 'Financial Technologies of India Limited' (FTIL), on Wednesday organised a peace march at Azad Maidan to protest against the Economic Offences Wing (EOW) of Mumbai Police for freezing company’s operational accounts.


While talking to Mumbai Live, the company’s Senior Vice President Mahmood Vaid said that all the employees are gathered here because their salary accounts are being affected. As we live in a cosmopolitan city, the employees have EMIs and credit card payments on hold and their livelihood is being affected.

The action taken by the EOW will affect the livelihood of 1000 employees and 200 vendors affecting their families, mentioned the company’s press release. Vaid informed that the company has created a true and first ‘Make in India’ product for the broking industry which has been used for over two decades and has around five lakh terminals.

“You can imagine the indirect employment which has been generated with this,” the Senior VP added.

The press release said that after multiple tries of investigating, there have been no trails of any crime. “We have always cooperated with the law and still the company is being destroyed,” Vaid asserted.


Someone is trying to kill the company and mislead the investigation because of which all the employees are suffering,” Senior Vice President Mahmood Vaid of 63 Moons Technologies claimed.

The Jignesh Shah-led company had been under the radar of probe agencies’ as it was unable to work out the trades, worth ₹56 billion, with National Spot Exchange. The trade for ₹5,600 crores was carried out earlier in 2013. Mumbai Police also appealed to the sessions court in Mumbai to transfer the revenue generated by the company in an escrow account so that the money is accessible to the EOW too.

Earlier, 63 Moons Technologies called this act as barbaric and unethical as it affects the thousands of employees, working at the company, and their families.

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