NCLT Mumbai orders freeze of Videocon group promoters' assets

It has directed the erstwhile promoters of Videocon group to disclose in an affidavit their moveable and immovable properties/assets

The Mumbai bench of the National Company Law Tribunal (NCLT) on Tuesday directed the erstwhile promoters of Videocon group to disclose in an affidavit their moveable and immovable properties/assets, including bank accounts, owned by them in India or anywhere in the world.
 
In an order, the NCLT said, the Central Depository Services Ltd. (CDSL) and National Securities Depository Ltd. (NSDL) is directed that securities owned/ held by the respondents (except companies) in any company/society be frozen, and be prohibited from being transferred or alienation and details thereof be shared with the Petitioner (union government).
 
It has also