NCLAT seeks fresh NCLT order against senior executives of Videocon Telecom

The National Company Law Appellate Tribunal (NCLAT) on Thursday asked the Mumbai bench of the National Company Law Tribunal (NCLT) to pass a fresh order after “providing opportunity for hearing” to two senior executives of Videocon Telecommunications whose assets were attached through an order of August 31.

The Mumbai bench of the NCLT, on a plea by the Government of India, had attached and frozen moveable and immoveable properties, including bank accounts, lockers and demat accounts, including the jointly held properties, of Arvind Bali and Satpal Bansal, the former CEO and CFO of the bankrupt company.