Nirav Modi case: Ex-PNB chief Usha Ananthasubramanian approaches NCLAT

Usha Anant Subramanian

Former Punjab National Bank (PNB) managing director and CEO Usha Ananthasubramanian has approached the NCLAT against the NCLT Mumbai-bench order, which made her a respondent in the PNB-Nirav Modi fraud case.

A two-member bench headed by Chairman Justice S J Mukhopadhaya issued notice to the Ministry of the Corporate Affairs over her plea.

Earlier on January 31, 2019, the Mumbai bench of the National Company Law Tribunal (NCLT) had made her a party in the ongoing matter of PNB-Nirav Modi fraud case by accepting the Centre's request to implead her.

The appellate tribunal had directed to list the matter on April 29 for next hearing.

In its application before the Mumbai NCLT, the MCA had said that the impleadment of the additional respondents, including Usha Ananthasubramanian, was essential because they all are necessary and proper parties.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel