The corporate affairs ministry will 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 of 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 broken 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 tribunal.
The NCLT has posted the matter for hearing on Friday.