NCLT five-member Bench stays approval of Subhash Chandra’s ₹6.25-crore payout against ₹22,006-cr claims

NCLT Special Bench directs Subhash Chandra not to dispose of any property directly or indirectly during pendency of the proceedings

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

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.