NCLT puts Subhash Chandra’s repayment plan on hold, bars him from moving assets
- NCLT has stayed Subhash Chandra’s repayment plan and barred him from transferring or selling his assets.
- The move comes amid his personal insolvency case involving creditor claims of around ₹22,006 crore.
- His earlier repayment plan proposed paying about ₹6.5 crore against the admitted claims, implying a nearly 99.97% haircut for creditors.
- The tribunal’s latest action puts the repayment plan on hold as the insolvency proceedings and creditor challenges continue.
Source: storyboard18.com
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