63 moons technologies limited has disclosed significant developments regarding its non-material subsidiary Ticker Limited through a communication to stock exchanges on December 11, 2025. The update pertains to restructuring activities involving Baron Infotech Limited's insolvency resolution process.

NCLT Remand Order Details

The National Company Law Tribunal (NCLT) Hyderabad Bench issued an order dated December 09, 2025, directing the Corporate Insolvency Resolution Process of Baron Infotech Limited to be re-run through a new Resolution Professional. The tribunal identified procedural issues during the earlier process that necessitated this remand.

Resolution Applicant's Response

Vivek Kumar Ratakonda, identified as the Successful Resolution Applicant, communicated the tribunal's decision to Ticker Limited on December 11, 2025. According to his letter, the NCLT found no issues with the resolution plan itself, noting that creditors were being paid 100% of their dues, which aligns with the foundational principle of the Insolvency and Bankruptcy Code (IBC) rather than profiteering motives.

Ratakonda has indicated he is considering all legal options and expressed confidence in successfully completing the process at the earliest opportunity.

Company's Current Position

Ticker Limited, through its Managing Director and CEO Joseph Massey, has informed the parent company that it is exploring various options in the current scenario. This communication was part of the subsidiary's ongoing obligation to keep 63 moons technologies informed about material developments.

Regulatory Compliance

The disclosure was made pursuant to applicable SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015. Company Secretary Hariraj Chouhan submitted the communication to both BSE Limited and National Stock Exchange of India Limited, referencing an earlier communication dated January 31, 2025, on the same subject matter.

Corporate Structure Context

Ticker Limited operates as a non-material subsidiary of 63 moons technologies limited. The subsidiary is involved in the insolvency resolution process concerning Baron Infotech Limited, which has now encountered procedural complications requiring tribunal intervention and process restart.

The National Company Law Tribunal (NCLT) has given its approval to a significant settlement plan between 63 Moons Technologies (formerly known as National Spot Exchange Limited or NSEL) and 5,682 traders, marking a pivotal moment in resolving ongoing legal disputes in the commodities market.

Key Details of the Settlement

Significance of the Settlement

This settlement represents a major step towards resolving long-standing legal issues in the commodities trading sector. The high approval rate from stakeholders, at 92.81%, indicates widespread acceptance of the terms among the affected parties.

Implications for the Market

The resolution of this dispute may help in restoring confidence in the commodities market and the regulatory framework overseeing it. It also sets a precedent for how similar disputes might be resolved in the future, potentially streamlining the process for addressing complex market-related legal challenges.

Next Steps

While the NCLT's acceptance of the settlement plan is a crucial milestone, the actual implementation of the ₹1,950 crore payment to the traders will be the next important phase to watch. This development may have broader implications for the financial markets, particularly in terms of regulatory oversight and investor protection measures.

As this situation continues to unfold, market participants and regulators alike will likely be monitoring its impact on the wider financial ecosystem.