Subhash Chandra insolvency: NCLT 5-member bench stays August 25 verdict, orders fresh hearing

The National Company Law Tribunal (NCLT) on Tuesday stayed the operation of its August 25 order approving a repayment plan proposed by Zee Group founder Subhash Chandra in his personal insolvency case, after finding that no clear majority view had emerged among the earlier members who heard the matter.

The five-member NCLT bench also restrained Chandra from alienating any property, directly or indirectly, and issued notices to all parties involved. The matter will now be heard afresh.