Canara Bank, Union Bank of India, LIC Housing Finance to challenge NCLT nod to Subhash Chandra's ₹6.25-cr repayment plan
Canara Bank, Union Bank of India, and LIC Housing Finance announced plans to challenge the National Company Law Tribunal's approval of Subhash Chandra's ₹6.25 crore repayment plan. The banks opposed the plan, which received backing from creditors holding 80.81% of the voting share. The appeal will be filed with the National Company Law Appellate Tribunal, escalating the ongoing legal dispute.