India, May 29 -- The Ahmedabad bench of National Company Law Tribunal (NCLT) has issued directions to freeze and attach all the bank accounts and lockers of troubled engineering, procurement and construction (EPC) company Gensol Engineering and its associated entities.

The tribunal's order came after the Ministry of Corporate Affairs filed a petition seeking urgent interim relief to enable the Reserve Bank of India and Indian Banks' Association (IBA) to take immediate steps to secure the financial assets of Gensol and 37 related parties and individuals.

In its order dated May 28, the NCLT noted that there was prima facie evidence that Gensol indulged in systemic fraud, involving substantial public interest.

". This tribunal notes serio...