NCLAT rejects BSE pleas on Demat account freezing during insolvency

The National Company Law Appellate Tribunal (NCLAT) has dismissed the appeals filed by BSE, where the leading bourse challenged the power of the NCLT to defreeze the Demat accounts of businesses undergoing insolvency resolution and liquidation process.

“…the impugned orders have been passed in valid exercise of such jurisdiction,” the NCLAT said while setting aside the two petitions filed by BSE.