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IL&FS: NCLT restrains top 9 former executives from selling assets, seeks bank details

Updated : December 04, 2018 10:51 AM IST

The bankruptcy court gave them three weeks to file the response and declare their assets and fixed the next hearing on January 16, 2019. The court, however, did not allow the government submission for freezing their accounts.
The Mumbai bench of the NCLT passed the interim order while hearing a fresh affidavit moved by the corporate affairs ministry that sought to freeze the accounts of these former top management of the IL&FS group, which was taken over by the government on October 1, following a string of defaults by its subsidiaries.
IL&FS: NCLT restrains top 9 former executives from selling assets, seeks bank details

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