Subhash Chandra challenges NCLT bench in insolvency case
- Zee Group founder Subhash Chandra challenges the NCLT’s decision to form a five-member bench for his personal insolvency case.
- His lawyers argue that the NCLT does not have the statutory power to create such a larger bench for the case.
- The five-member bench was formed after a two-member NCLT bench gave a split verdict on Chandra’s repayment plan.
- Chandra’s plan proposed paying ₹6.25 crore against claims of ₹22,006 crore, while the larger bench has stayed the earlier order and barred him from selling or transferring assets.
Source: financialexpress.com
Get 100 stories a day on the app
Read, watch & listen · Free on iOS & Android
