Economy
NCLT Forms Special Bench for Subhash Chandra Insolvency Case
Bar and Bench47m
THE BRIEF
1
The NCLT has constituted a 5-member special bench to resolve the personal insolvency case of Zee Group founder Subhash Chandra, following a split verdict from a previous 2-member panel.
2
The bench will evaluate Chandra's proposal to pay ₹6.25 crore to creditors against admitted claims totaling ₹22,006.57 crore, with the first hearing scheduled for 10.15 AM on September 1.
3
The proceedings follow a challenge by LIC Housing Finance before the National Company Law Appellate Tribunal, which is also set to hear the appeal regarding the repayment plan on September 1.