Contempt plea against IL&FS Financial Services ex-CEO Ramesh Bawa


Contempt plea against IL&FS Financial Services ex-CEO Ramesh Bawa

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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