The corporate affairs ministry will on Friday file contempt of court petitions against Axis Bank and Standard Chartered Bank for their alleged role in ex-IL&FS Financial Services managing director Ramesh Chander Bawa and his wife disposing off a portion of their assets which were frozen by the NCLT.
The ministry is filling two applications and a petition against Bawa and his wife and the banks after it has come to light that the parties have gone against the orders of the bankruptcy tribunal.
A bench of VP Singh and Ravikumar Duraisamy had on December 3, 2018 had restrained the former directors of the crippled IL&FS group from mortgaging/selling, or creating third-party interests or in any way alienating movable or immovable or jointly held properties.
However, the NCLT had allowed the former directors of the crippled group to withdraw Rs 2 lakh each per month from one of their bank accounts after intimating the the tribunal.
The NCLT has posted the matter for hearing on Friday.
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