Attach assets of Videocon promoters: NCLT

Mumbai, September 1

The National Company Law Tribunal (NCLT) has directed to freeze and attach assets and properties of Videocon promoters following a petition by the Ministry of Corporate Affairs.

The NCLT Mumbai Bench has directed the Central Depository Services Ltd (CDSL) and National Securities Depository Ltd (NSDL) that securities owned or held by the Videocon promoters “in any company or society be frozen, and be prohibited from being transferred or alienation” and the details be shared with the Ministry of Corporate Affairs (MCA).

It directed the Central Board of Direct Taxes (CBDT) to disclose information about all assets of the Videocon promoters in their knowledge or possession, for the purpose of freezing and restraining such assets. — PTI