NCLT Takes Key Decision.. Major Setback for Subhash Chandra

A five-member bench of the National Company Law Tribunal (NCLT) has stayed its earlier August 25 order approving Subhash Chandra’s ₹6.25 crore repayment plan. The bench observed that there was no clear majority view on the matter, leading to the stay of the earlier order.

The tribunal has also restrained Subhash Chandra from alienating any property, either directly or indirectly, while the matter is being considered. Notices have been issued to all parties involved in the proceedings. Further developments are expected after the concerned parties respond to the tribunal’s directions.