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Gitanjali Gems: ICICI Bank places application in NCLT

ICICI Bank approached the Bench and informed them of the lender's wish to see that their security interests are protected whenever the Bench pronounces an order in the matter

Gitanjali gems
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Photo: Kamlesh Pednekar

Advait Rao Palepu Mumbai
ICICI Bank has filed an intervention application in the Union of India (Ministry of Corporate Affairs, or MCA) versus Gitanjali Gems (and others) case, currently being heard at the National Company Law Tribunal (NCLT) in Mumbai.

The MCA has filed a case against Gitanjali Gems under Sections 221,222, 241, 242, and 246 of the Companies Act of 2013.

The special division Bench was hearing applications moved by various respondents in the case, when the counsel for ICICI Bank approached the Bench and informed them of the lender’s wish to see that their security interests, which are laid out in formal