New Delhi [India], October 12 : The Enforcement Directorate (ED) has secured a major breakthrough in the National Spot Exchange Limited (NSEL) case, with a special Prevention of Money Laundering Act (PMLA) court in Mumbai allowing the monetisation of attached properties worth Rs 3,464 crore to facilitate the restitution of Rs 1,950 crore to investors under a one-time settlement approved by the National Company Law Tribunal (NCLT).
The court issued the order on October 8 in the PMLA special case. The order is a significant step towards restitution to investors who have been awaiting recovery for the last 13 years since the payment default of 2013.
As per the ED, the restoration order provides that up to Rs 1,950 crore realised from the monetisation of PMLA-attached properties will be paid to 63 Moons Technologies Ltd, as assignee of the specified creditors (investors), after the Settlement Trigger Event defined in the NCLT-approved Scheme. Under the Scheme, Rs 1,950 crore is payable to 5,682 specified creditors.
As many of these properties are also attached under the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 (MPID Act), the ED said it will carry out the monetisation in consultation with the Competent Authority under the MPID Act.
ED gave its no-objection to this arrangement in order to secure early restitution to investors. "As per the order, any amount realised in excess of Rs 1,950 crore will remain in the custody of the Special Court, subject to the final outcome of the proceedings."
The agency said the FIR in 2013 was registered at MRA Marg Police Station in Mumbai and later transferred to the Economic Offences Wing of Mumbai Police against the platform provider, its directors and key officials, 25 defaulting members and others, for criminal conspiracy, cheating, criminal breach of trust and forgery. 
It was alleged that trading was allowed in commodities without actual underlying stocks. 
ED said the resulting payment default affected about 13,000 investors, with outstanding dues of around Rs 5,600 crore.
ED recorded an Enforcement Case Information Report (ECIR) and investigated the case under the Prevention of Money Laundering Act, 2002 (PMLA). ED has so far issued 35 Provisional Attachment Orders, attaching assets of about Rs 3,464.03 crore and also filed Prosecution Complaints (PC), including Supplementary PCs before the Special Court.
On November 28, 2025, ED said the NCLT in Mumbai sanctioned a scheme of arrangement under Sections 230–232 of the Companies Act, 2013, providing a one-time settlement of Rs 1,950 crore for 5,682 specified creditors. The scheme was approved by over 92 per cent of the creditors and assures each of them a minimum recovery of about 42 per cent of their verified claims. 
The NCLAT dismissed the appeal against the sanction on January 15, 2026, and the challenge before the Supreme Court was also dismissed. 
On April 13, 2026, the Supreme Court directed all courts and authorities to pass appropriate orders expeditiously for implementing the Scheme, as it is intended to pay the entitled investors.
"Order for monetisation of entire attached properties, Rs 3,464 crore, is a major milestone for Restitution of  Rs 1950 crore immediately and the balance at a later stage (as to be decided by Hon’ble Special Court)," the agency said in a statement.
This is not ED’s first step towards restitution in the case. Earlier, on the directions of the Supreme Court-appointed Committee headed by Justice (Retd.) Pradeep Nandrajog, ED placed the shares of Timber Trail Travel Today Pvt Ltd, together with the profits earned on them, worth about Rs 17.47 crore, before the Committee for distribution to investors.