Choksi’s plea seek­ing stay on con­fis­ca­tion of as­sets junked

The Times of India (New Delhi edition) - - Times Nation -

Aspe­cial

court in Mum­bai on Thurs­day re­jected a plea sub­mit­ted by ab­scond­ing busi­ness­man Me­hul Choksi’s de­fence seek­ing a stay on the pro­ceed­ings ini­ti­ated to de­clare him a fugi­tive eco­nomic of­fender (FEO) and con­fis­cate his prop­er­ties, on the grounds that by a 2018 in­terim or­der, the Na­tional Com­pany Law Tri­bunal (NCLT) had at­tached his prop­er­ties. Choksi’s de­fence had sub­mit­ted the plea be­fore the Pre­ven­tion of Money Laun­der­ing Act (PMLA) seek­ing a stay and claimed that on Fe­bru­ary 23, 2018, NCLT had di­rected par­ties not to alien­ate the as­sets un­til fur­ther or­ders.

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