The Ministry of corporate affairs (MCA) on Thursday filed a contempt petition at the Mumbai bench of the National Company Law Tribunal (NCLT) against Ramesh Bawa, former CEO of IL&FS Financial Services.
The government alleged that Bawa is in contempt of an NCLT order dated December 3, which effectively put a freeze on all movable and immovable assets of Bawa and eight other former senior officials of the IL&FS group.
The NCLT in January relaxed these conditions, allowing Bawa and the others to withdraw up to Rs 2 lakh from any bank account after informing the tribunal. Read More
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