In personal insolvency case before NCLAT, Subhash Chandra opposes formation of 5-member NCLT bench

Appearing for Subash Chandra before the National Company Law Appellate Tribunal, Senior Advocate Sasmit Patra termed the NCLT order "faulty and wrong" and said, "they are not empowered" to form a five-member bench

A five-member bench is set to examine the plea from Indiabulls Housing Finance against Subhash Chandra. This review follows the NCLAT's validation of a Rs 6.5 crore payment order. Solicitor General Tushar Mehta contends that this ruling undermines the principles of the Insolvency & Bankruptcy Code. The NCLT delivered a

In the statement, Union Bank of India, along with other creditors, including Canara Bank and LIC Housing Finance, had voted against the resolution plan and opposed its approval before the NCLT.