63 Moons Technologies Ltd.

BSE: 526881 | NSE: 63MOONS
Small Cap | IT - Software
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FTIL receives notice on alleged Infringement of copyrighted work of Modulus

Date: 05-07-2016

Financial Technologies (India) (FTIL) has received copy of Notice of Motion and Suit filed by Modulus Financial Engineering Inc, USA (Modulus) at the High Court, Bombay, alleging infringement of copyright of software with reference to the license Agreements entered into with them since 2008.

The company has however denied any such infringement as alleged and is taking appropriate measures in consultation with its legal counsel. The company believes that the impact of the suit is currently not readily ascertainable.

FTIL is a flagship company of the Financial Technologies Group. It provides technology solutions and domain expertise for digital transactions and financial markets across all asset class including equity, commodities, currency and debt.