India's 360 One Wam falls on court's nod for continuation of civil suit against it

360 One Wam

31/03/2023 06:27

** Shares of 360 One Wam Ltd  ONEW.NS  fall as much as 7.7% to 404.95
rupees, their largest intraday fall since Jan 30
    ** Co says England and Wales high court has allowed claimants Prashant
Hasmukh Manek and others to continue proceedings against co, 360 One Asset
Management (Mauritius) Ltd and 360 One Capital Pte Ltd (together, 360 One Wam
entities) 
    **  IIFL Wealth (UK) Ltd is defending civil suit brought by claimants in the
high court claiming damages, alleging that they were led to sell their shares in
Hermes i-Tickets Pvt Ltd at significantly undervalued amount
    ** In Feb 2022, claimants commenced proceedings against 360 One Wam entities
with regard to civil suit, while entities challenged it
    ** Co says order has no material impact on it
    ** Stock down 1.2% YTD, as of last close

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))