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The Economic Times
The Economic Times
Business

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

Subhash Chandra NCLT NCLAT Sharma Tushar Mehta Essel Group LIC Housing Finance

New Delhi, Insolvency tribunal NCLT on Monday formed a five-member bench to decide on media baron Subhash Chandra's repayment plan in a personal insolvency case involving claims of more than Rs 22,000 crore after a division bench failed to reach a majority verdict.

The division bench had referred the personal insolvency case against the Essel Group Chairman to the tribunal's president for fresh adjudication after failing to reach majority consensus on a proposed Rs 6.5 crore repayment plan despite referring the matter to a third judge.

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