63 Moons-NSEL Merger: A Boon or a Bane for the Stakeholders

Shernaz Bodhanwala
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Shernaz Bodhanwala: FLAME University, India

Asian Case Research Journal (ACRJ), 2019, vol. 23, issue 02, 369-398

Abstract: The Ministry of Corporate Affairs, Government of India, had ordered the mandatory merger of 63 Moons Technologies Limited (63 Moons) with its crisis struck subsidiary company, National Spot Exchange Limited (NSEL), the electronic commodity spot exchange of India. However, 63 Moons’ board and promoters did not agree with the forced merger order as they believed that they were not at major fault behind the NSEL payment crisis. The case provides an opportunity to participate in the real-world complex decision-making process which involves the forced merger of two entities that may affect the interest of various stakeholders. The case allows examination of the issues such as related party transactions, internal monitoring and control processes, organizational structure and the regulatory framework which led to the payment crisis.

Date: 2019
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DOI: 10.1142/S0218927519500159

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