NCLAT rejects BSE's pleas on freezing accounts of insolvent firms

The National Company Law Appellate Tribunal (NCLAT) has rejected pleas by BSE on freezing of demat accounts during insolvency. The tribunal upheld the National Company Law Tribunal's (NCLT) jurisdiction to entertain applications in the matter. BSE earlier froze the demat accounts of Future Corporate Resources and Liz Traders and Agents due to non-payment of the annual listing fee.