NCLT Forms 5-Member Bench to Decide on Subhash Chandra's Rs 6.5 Crore Repayment Plan

NCLT forms 5-member bench to decide on Subhash Chandra's Rs 6.5 crore repayment plan

A new five-member bench will decide Subhash Chandra's repayment plan. This personal insolvency case involves claims exceeding twenty-two thousand crore rupees. A previous division bench failed to reach a majority verdict on the plan. Dissenting lenders have approached the insolvency appellate tribunal regarding the matter. The bench will commence hearings on Tuesday morning.

Tribunal twist: NCLT to hear Chandra plan again, this time with a bigger bench

The NCLT said there was no majority view on Chandra’s repayment plan. One member had favoured applying the repayment plan only to creditors who supported it, while another member held that the plan should apply to all creditors, including those who opposed it

NCLT forms five-member bench to decide Subhash Chandra insolvency case

NCLT has formed a five-member special bench to decide Subhash Chandra’s insolvency case after conflicting opinions emerged on his Rs 6.25-crore repayment plan.

Tribunal Hurdle To Subhash Chandra's Rs 22,000 Crore Debt Cut

The matter has been sent to the NCLT President again following the difference of opinion. The President may appoint a third member or issue an order himself to reach a majority view.

NCLT fails to get majority view on Subhash Chandra's insolvency plan

The National Company Law Tribunal (NCLT) has constituted a five-member bench to decide Subhash Chandra’s insolvency case after a two-member bench held that no majority view had emerged and, therefore, no final order could be passed on his Rs 6.25 crore repayment plan

Subhash Chandra's Rs 6.25 crore repayment plan stalls as NCLT forms 5-member bench

The larger bench will decide whether the plan can be approved despite the objections and whether it should also bind creditors who voted against it.