Economy
NCLAT Issues Notice to Creditors on Subhash Chandra's Personal Insolvency Plea
The Hindu1h
THE BRIEF
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The NCLAT issued notices to creditors on Tuesday regarding a plea by Essel Group Chairman Subhash Chandra challenging an NCLT order staying his repayment plan.
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The appellate tribunal scheduled hearings for October 29 and 30, granting a week for replies and rejoinders over maintainability and interim relief.
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Chandra's personal insolvency matter stems from a CBI FIR alleging he inflated net worth to secure loans totaling ₹980 crore from LICHFL, causing over ₹1,322 crore in public losses.