The ex-parte order was passed on a petition filed by the corporate affairs ministry under various sections of the Companies Act, 2013. The ex-parte order was passed on a petition filed by the ministry under various sections of the Companies Act, 2013. It has been passed against 64 entities that includes Nirav Modi, Mehul Choksi, few individuals related to the Punjab National Bank, various companies and limited liability partnerships. According to the ministry, the petition came up for urgent hearing before the Mumbai bench of the NCLT on 23 February and that an ex-parte order was passed. There is an injunction against these entities from “removal, transfer or disposal of funds, assets and properties” till further order, according to the announcement.

Source: Mint March 04, 2018 11:48 UTC