The NCLT on Friday issued contempt notices to the heads of Axis Bank and StandardC for allowing the former head of ILFS Financial Services Ramesh Chandra Bawa to withdraw money and access the lockers in breach of its orders, and directed them to reply in two weeks.
The tribunal posted the matter for further hearing on June 7.
The Mumbai bench of the National Company Law Tribunal (NCLT) issued contempt notices to Axis Bank chief executive Amitabh Chaudhry, Standard Chartered Bank India chief executive Zarin Daruwala and Bawa after the corporate affairs ministry alleged that the banks facilitated Bawa to withdraw/transfer money from their accounts to his wife Ashakiran and daughter Akansha, apart from letting him access the lockers.
